Vodafone Idea share price rose almost 10% in Friday's early trade after the telecom major announced that it has sold its 11.15% stake in Indus Towers for Rs 3,760 crore. Now it can go more higher. and ichimoku cloud is also giving a signal of strong buy. in this analysis take entry after when trend line breaks and sustains and starts shooting up.. targets are given. Feel free to ask anything.
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the price didn't crossed the trend line and took the resistance.so u should not take any position as stated above. But if you wanna take the short position than you should take position after few minutes , when the price took resistance from trend line and start shooting down.
Indus stake announcement came much earlier, then why Voda Idea is moving up now. There are other news making it to go up. 1) Tariffs may increase any time which is big beneficiary for Vodafone, Airtel and Jio also. For better valuations Jio also needs to rise tariffs before their forth coming public issue. 2) Idea, Bharti and TTML have put petitions in supreme court for looking into AGR calculations errors. If that is accepted then their AGR dues can come down by around Rs.25000Cr 3) Their attrition rate is falling every month 4) Better quality in down loan speeds etc 5) They may anytime offer stake for institutional investors at attractive price which may be higher than present market price 6) Tariffs are at historical lows and there is every chance for hike to such levels where they can earn profits 7) Increase in data consumption due to Covid. I have posted on Idea one month back in the same forum when it was at 10.05 as it was making Cup and handle pattern. See my link avlnrao63