Web Exclusive: Should you buy telecom stocks?
Telecom sector has been in the news lately on the back of the 2G spectrum auction. Check out the trading strategies for key stocks from this sector with Dipesh Mehta, derivative analyst, Nirmal Bang Securities.
Smartinvestor : The markets have been trading in a tight range since quite some time now. What range do you see Nifty to trade for the remaining part of November series? What is the immediate support and resistance for the Nifty?
Dipesh Mehta : Nifty may trade in the range of 5,600-5,750 in the remaining part of November series. Nifty has strong support at 5,600 and a correction from here could drift markets to 5,400 levels or so.
Smartinvestor : What is your current market strategy and what counters are you focusing on from a medium-term perspective?
Dipesh Mehta : My current market strategy is to buy on dips. I would suggest investors to SELL Maruti at Rs 1,500 levels and buy DLF. Also buy 5,600 call and put option as I expect market to go either up or down by 100 points and this opportunity could be used to cash-in gains.
Smartinvestor : Bharti Airtel has been trending up since the past few sessions. Do you expect this to continue? What about RCom and Idea Cellular?
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Also Read: Has the 2G spectrum auction really been a failure?
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