Vodafone Idea, TTML, MTNL can rally another 35-40% from current levels

Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.

Bharti Airtel Ltd (BHARTIARTL)
Likely target:  Rs 710
Upside potential:  6%

The overall structure of the Bharti Airtel shows formation of a “Head and Shoulder” pattern, suggesting a weaker trend. This downside move has tested and managed to reverse at the crucial accumulation and a breakout range of Rs 640 to Rs 620 levels. The current positive bias aims at reaching the Rs 720 mark, which is the significant hurdle at current situation. The immediate support is positioned at Rs 660 levels. CLICK HERE FOR THE CHART

Vodafone Idea Ltd (IDEA)
Likely target:  Rs 20
Upside potential:  40%

The shares of Vodafone Idea has not only broke from “Inverse Head and Shoulder” pattern , but also conquered the resilient mark of Rs 14 levels, as shown in the daily chart. This strength reflects a positive underneath trend which seems to be heading towards Rs 20 levels. The immediate support falls at Rs 12 and Rs 10 levels. CLICK HERE FOR THE CHART

Mahanagar Telephone Nigam Ltd (MTNL)
Likely target:  Rs 50
Upside potential:  35%

The stock has positively broken out of the “Symmetrical triangle” signifying a bullish trend for a short-to-medium term perspective. The volumes on the breakout exhibits greater interest of market participants seeking higher gains ahead. The immediate support arrives to Rs 30 and Rs 24 with stock heading towards Rs 50 mark.  CLICK HERE FOR THE CHART
 
Tata Teleservices (Maharashtra) Limited (TTML)
Likely target:  Rs 230
Upside potential:  25%

Although, the stock seems little risky with continued upper and lower circuits, the bigger trend seems to favour bulls. As long as the support of Rs 150 is defended, the bullish bias may see a rally towards Rs 230 mark. CLICK HERE FOR THE CHART