Indian investors have several choices about investing in the Telecom Sector. But should they use the correction in the telecom sector stocks to jump in or bail out?
Let us have a look at the technical charts.
Bharti Airtel - Ranked 1st in the wireless telecom space (based on market share).
The chart pattern of Bharti reveal that the stock is currently looking oversold with an RSI of 35.18. The stock is trading well below the 200D Moving Average (MA), current price is Rs. 351.
Historically Bharti has mostly traded well above 20x its earnings (PE). Currant PE is under 17x, which is less than the sector average.
My recommendation is to Buy Bharti with an upside potential of up to 14% (Rs. 408)
Reliance Communication (RCom) - RCom is ranked 2nd in the telecom space.
The charts reveal that the stock is currently trading near its 200D MA, current price is Rs. 243.
The stock is currently oversold with an RSI of 33.25.
Historically RCom has mostly traded well above 15x its earnings (PE). Currant PE is under 11x, which is well below the sector average (19x).
My recommendation is to Buy RCom with an upside potential of up to 13% (Rs. 280)
Let us have a look at the technical charts.
Bharti Airtel - Ranked 1st in the wireless telecom space (based on market share).
The chart pattern of Bharti reveal that the stock is currently looking oversold with an RSI of 35.18. The stock is trading well below the 200D Moving Average (MA), current price is Rs. 351.
Historically Bharti has mostly traded well above 20x its earnings (PE). Currant PE is under 17x, which is less than the sector average.
My recommendation is to Buy Bharti with an upside potential of up to 14% (Rs. 408)
Reliance Communication (RCom) - RCom is ranked 2nd in the telecom space.
The charts reveal that the stock is currently trading near its 200D MA, current price is Rs. 243.
The stock is currently oversold with an RSI of 33.25.
Historically RCom has mostly traded well above 15x its earnings (PE). Currant PE is under 11x, which is well below the sector average (19x).
My recommendation is to Buy RCom with an upside potential of up to 13% (Rs. 280)
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