Sell Bharti Airtel, says Siddharth Bhamre

Jul 30, 2013, 02.26 PM IST

Siddharth Bhamre of Angel Broking is of the view that one can go short in Bharti Airtel with a stoploss at Rs 347. "The stock may go down to Rs 314," he adds.

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Siddharth Bhamre of Angel Broking is of the view that one can go short in Bharti Airtel with a stoploss at Rs 347. "The stock may go down to Rs 314," he adds.

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Sell Bharti Airtel, says Siddharth Bhamre

Siddharth Bhamre of Angel Broking is of the view that one can go short in Bharti Airtel with a stoploss at Rs 347. "The stock may go down to Rs 314," he adds.

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Siddharth Bhamre of Angel Broking told CNBC-TV18, "Telecom is a sector in which we have seen people hiding because they are uncertain about market. In yesterday's trading session we have seen formation of fresh short positions in Bharti Airtel , not just Bharti if one looks at the entire telecom space, yesterday was quite a correction in that from higher levels; Idea Cellular has seen long unwinding but Bharti has seen formation of short positions. So, we would short at current levels. We are not expecting huge downside but Rs 314 is what we are expecting and one can fix stoploss around Rs 347 and go short."

At 11:29 hrs Bharti Airtel was quoting at Rs 328.50, down Rs 5.50, or 1.65 percent. It has touched an intraday high of Rs 334.90 and an intraday low of Rs 327.10.

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