1) Idea - India's leading telecom company has been the most steady performer among the large telecom stocks.
2) Though, the stock is now facing resistance around 148 levels. It has a long term resistance around that level. It has just been fell down from those levels around a week back (See chart below)
3) Also, the stock has seen steep up rise since April 2013. It has gone up by around 30% from those levels. This gap is likely to be filled.
4) Accumulating all these factors, one may go short around 144 with stop-loss at 148 and target prices of 137 and 131.
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