Indian stock market
is in secular bull trend where every stock and sector seems to be
rising with the broader market trend except Telecom sector. The top 3
telecom companies have made no bullish progress in last 6-9 months.
Let us look at the chart of all 3 stocks.
Reliance Communications
As you can see in the chart above: Reliance Communication stock turned around above 110 in June 2013. Post turnaround – stock did rally to 150 but post that move – it’s trapped in a range.
Idea Cellular
As you can see in the chart above: Idea stock is stuck in a range between 130 and 150.
Bharti Telecom
As you can see in the chart above: Bharti stock has created a well defined resistance at 370 and is stuck below it.
What does this mean?
It appears Telecom sector has totally fallen out of favor. Keep an eye
- Reliance Communications
- Idea Telecom
- Bharti Telecom
Let us look at the chart of all 3 stocks.
Reliance Communications
As you can see in the chart above: Reliance Communication stock turned around above 110 in June 2013. Post turnaround – stock did rally to 150 but post that move – it’s trapped in a range.
Idea Cellular
Bharti Telecom
As you can see in the chart above: Bharti stock has created a well defined resistance at 370 and is stuck below it.
What does this mean?
It appears Telecom sector has totally fallen out of favor. Keep an eye
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