IDEA
IDEA has broken support levels around 103 after moving sideways for a while. Telcos are under clear pressure with imminent launch of Reliance JIO and over the next few quarters, pressure on CAPEX and ARPU is going to be significant. Technically it is in bearish trend both on weekly and daily charts. MACD has turned bearish and Price has failed to break thru Ichimoku resistance cloud.
First target for idea is : 95 And if 95 levels are broken with significant momentum one can expect to see 70 levels over next few quarters. Stop loss for traders is 106.75