courtesy: telecom talk
Vodafone Idea’s Rs. 18,000 crore follow- on public offering’s (FPO) anchor 30- day lock-in period is likely to expire on Monday, May 27. In the past, the company shares has been under selling pressure towards the end of anchor lock-in. On Friday, the share price of Vi ended the BSE trading session 7.54% higher at Rs. 15.11 per share, which may face selling pressure on Monday’s trade.
The monthly charts have suggested that Vi has managed to form a base around 10.50 to 11.75 level and is also seen to be breaking out above its important resistance mark of 14.05, successfully managing to close above the same.
Overhead resistance lies between 18.40 to 22.00 level, which should be the potential targets for the stock within the next one year. Any pullback down towards 14 to 14.50 should offer a good buying opportunity now on the stock, said Prashanth Tapse, Research Analyst, Senior vice President of Research at Mehta Equities.
