Bharti Infratel Ltd. is almost trading at their lowest level in five years as investors fear that cost cuts by telecom operators after a Rs 92,000-crore blow in adjusted gross revenue dispute will hurt the growth of the tower arm of India’s second-biggest carrier. Thus this is the right time to either short the stock or keep away from it.This post is being made to warn you that do not look for a value buy in the stock as stock becomes a buy only above 245 level. It is better to let the bus go ahead and gain momentum rather than sitting on a bus that stops than restarts. The value buyers may argue that we will miss the profit potential but remember that a falling stock is like a falling knife and we have already covered such stocks in the past too and have seen what fate stocks like DHFL and Yes bank have met.
As of now, the Supreme court has ruled that telecom operators will have to include revenue from non-core operations to calculate levies. The carriers will have to pay penalty and interest, the Supreme Court had said in its order last week. Among other operators, Bharti Airtel Ltd. will have to pay Rs 21,682 crore and Vodafone Idea Ltd. Rs 28,309 crore to the Department of Telecommunications.
As we can see in the stock chart that RSI is below 30 which shows that the momentum of the stock is strongly negative in the short term and is only a shorting candidate.
Check the stock chart now and avoid the value buying trap in the stock and do not forget to check tomorrow intraday stock and enjoy your profit in less than two hours.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
