You are here: Home » Markets » News
Vodafone Idea hits 31-month high, stock surges 38% in 4 trading days
Paytm, Star Health IPOs show retail investors' psyche: Analysts
Business Standard
Web Exclusive

After 11 years of struggle, MTNL headed higher; Vodafone may see 40% jump

The slew of developments in the telecom space over the past few weeks have brought back investors' interest in this sector. Most stocks should do well over the next few sessions, tech charts show

MTNL | Vodafone Idea | Telecom companies

Avdhut Bagkar  |  Mumbai 

telecom sector, auctions, spectrum, signal, communication, tech
Nearly after 11 years, the shares of Mahanagar Telephone Nigam Ltd managed to sustain above 100- monthly moving average (MMA)

BSE Telecom Index
Likely target: 2,000
Upside potential: 8%

The index has conquered the resistance of 1,850 mark recently. The current level reflects the retest of the breakout, which the index is holding firmly. The next immediate support comes in at 1,750 which needs to be defended on a closing basis for the index to move higher in the coming sessions. The overall trend suggests that the BSE Telecom index is headed towards 2,000 levels as long as the support is protected, according to the daily chart. CLICK HERE FOR THE CHART

Likely target: Rs 800
Upside potential: 12%

The medium-term breakout above Rs 650 levels has provided bullish outlook for the stock. The immediate short-term trend suggests the support of 100-days moving average (DMA), currently positioned at Rs 710 levels, should be held. If that happens, the positive trend is likely to sustain and may see hit a new high of Rs 800 in the sessions ahead. CLICK HERE FOR THE CHART

Ltd (IDEA)
Likely target: Rs 21
Upside potential: 40%

This is the first time after February 2016 that the shares of have crossed the 200-weekly moving average (WMA), placed at Rs 15.10 and is making an effort to sustain above it. If that happens, which seems obvious now, the breakout may see Voda Idea stock rush towards Rs 21 levels, gaining almost 40 per cent in the short-term, according to the weekly and the daily charts. The support comes in at Rs 12 and then at Rs 10 levels. CLICK HERE FOR THE CHART

Mahanagar Telephone Nigam Ltd (MTNL)
Likely target: Rs 27
Upside potential: 35%

Nearly after 11 years, shares of Mahanagar Telephone Nigam Ltd (MTNL) have managed to sustain above 100-monthly moving average (MMA) positioned at Rs 17.40. As per the charts, is headed in the direction of Rs 27, which also is the next obstacle for the counter. The stock has held its support levels from past the four months and continues to display an upward bias, as per the weekly and daily setup. CLICK HERE FOR THE CHART



What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Mon, December 06 2021. 11:42 IST