How to trade Vodafone Idea, Airtel, TTML after SC dismisses AGR dues plea?

Technical outlook on telecom stocks post SC verdict on AGR dues: Voda Idea looks weak on chart and can slide up to 34% from present levels. Bharti Airtel and TTML, however, look favourably placed.

Shares of telecom companies - Vodafone Idea (Voda Idea), Bharti Airtel and Tata Teleservices (Maharashtra) (TTML) ended on a mixed note on Monday after the Supreme Court dismissed the petitions moved by them seeking a waiver on long-standing adjusted gross revenue (AGR) dues.  The telcos were looking for a relief related to payment of interest, penalty, and interest on penalty components as part of their AGR dues.    Voda Idea, in particular, witnessed a sharp fall and the stock ended nearly 9 per cent lower amid reports that the telecom firm flagged it may not be able to operate beyond FY26, without support from banks or the government.  On Tuesday, in early trade, these 3 telecom shares were seen trading on a flat note - Voda Idea traded around ₹6.73 levels. Bharti Airtel was at ₹1,818, and TTML at 60.  Follow Stock Market Latest Updates Today LIVE  Against this background, here's a trading guide in Voda Idea, Bharti Airtel and TTML stocks. 

Vodafone Idea

  Current Price: ₹6.73  Downside Risk: 34.6%  Support: ₹6.47; ₹5.96  Resistance: ₹7.25; ₹7.53  Vodafone Idea stock is seen trading with a negative bias on the daily and weekly chart, as the stock trades consistently below the key moving averages. The near-term bias for the stock is expected to remain tepid as long as the stock remains below ₹7.53, with near resistance seen at ₹7.25 levels.  On the downside, ₹6,47 remains a crucial near-term support for Voda Idea. Break and sustained trade below the same can drag the stock to ₹5.97; below which a steeper fall towards ₹4.40 levels cannot be ruled out. CLICK HERE FOR THE CHART  ALSO READ | This defence stock, 2 smallcaps flag bullish signal on charts; details here 

Bharti Airtel

  Current Price: ₹1,818  Upside Potential: 15.2%  Support: ₹1,778; ₹1,760; ₹1,720  Resistance: ₹1,853; ₹1,901; ₹1,998  Bharti Airtel had recently hit a new life-time high at ₹1,917 on May 7. The stock has since slipped over 5 per cent, and is now seen seeking support around the daily trend line at ₹1,778 levels. The near-term bias for the stock is expected to remain favourable as long as the stock holds above this level. Below which, multiple supports for stock exist around ₹1,760 and ₹1,720 levels.  On the other hand, the stock needs to move back above its 20-Day Moving Average (20-DMA), which stands at ₹1,853 to resume the upward trend. On the upside, the stock can potentially rally to ₹2,095 levels, with interim resistance likely around ₹1,901 and ₹1,998 levels. CLICK HERE FOR THE CHART  TTML  Current Price: ₹60  Upside Potential: 21.7%  Support: ₹58.21; ₹54.40  Resistance: ₹62.70; ₹66.50  TTML stock recently witnessed a breakout on the daily chart as the stock closed consistently above the short-term moving averages and the trend line. Chart shows that the near-term bias for the stock is likely to remain positive above ₹58.21; below which significant support exists at ₹54.40.  On the upside, the stock faces an overhead resistance at ₹62.72. Break and sustained trade above the same is the key for further gains. The stock can potentially rally to ₹73 levels, with some resistance likely around ₹66.50. CLICK HERE FOR THE CHART