Siddarth Bhamre of Angel Broking told CNBC-TV18, "We are seeing that the telecom space under pressure. Idea Cellular which was buy for us, even that stock is giving up and is breaking support levels. In Bharti Airtel we have seen some fresh shorting happening at higher levels at Rs 415-420 odd levels and struggling to go above that resistance. I believe the stock can see a downfall from current level and might move towards Rs 390 odd. So I would suggest to short Bharti Airtel.""At the same time I am also suggesting to buy GAIL India. Last Tuesday, you have seen significant fall in this counter. We have seen some formation of short and there was huge volume which took place on Friday. However the stock is consolidating at lower levels. I am not expecting a change in trend in GAIL but I am expecting a bounce back for a small target of Rs 362 with a stop of Rs 331," he said.
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