According to Siddharth Bhamre of Angel Broking, one may prefer Idea Cellular over Bharti Airtel.
Siddharth Bhamre of Angel Broking told CNBC-TV18, " Idea Cellular is looking very positive from current level; it has some resistance around Rs 188-190 zone. But if it breaches that resistance which we believe with the kind of open interest it is showing, the built up of long positions we are seeing, it is quite possible that resistance will be breached and we might see further upside move. So, in telecom space I will prefer Idea over Bharti Airtel or Reliance Communications ."
"Pharma have run up significantly, then we saw some correction and again the runup has started. I am not very comfortable in pharma now. It has done really well when markets were going up and they have done really well when markets were falling also. Now, in this upside move market, I am not very hopeful about pharma. I am not saying go and short them, but I will not go long over there," he said.
"In related space pharmaceutical, Biocon is one stock in which since last one month we have been suggesting to accumulate, two months infact, to accumulate around Rs 415-430 odd zone. This stock has given a clear break-out. We have seen formation of long positions in Biocon. All those short positions which were there accumulated in this stock since last 4-5 months, those positions did not get roll over in February and March series and now we are seeing renewed upside moves. This upside move, though it has been significant, there is further upside move which is left. So, in pharmaceutical or related space I would prefer Biocon over others."
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