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IDEA Share Price Gained 9.34% On Friday’s Trade, Can You Buy IDEA Stock?

Vodafone Idea Ltd

NSE :IDEA   BSE :532822  Sector : Telecomm-Service

About Company: Vodafone Idea is one of the leading telecom service providers in India. The Company is engaged in the business of Mobility and Long Distance services, trading of handsets and data cards. The company’s business services include voice business/ services, broadband services, content services, enterprise services and other VAS offerings like entertainment, SMS, Utility. The market share fell from 40% to 27% since the merger of both Vodafone and Idea in 2018.

Daily Chart of Vodafone Idea Ltd:

Technical Outlook of Vodafone Idea Ltd:

Share Price of Vodafone Idea Limited gained 9.64% on 31-Dec-2021, Friday’s trade and closed at 15.35 on NSE. If we look at the daily chart of stock it can be clearly observed that stock has strong support around 13-13.50 level and stock previous resistance of 13-13.5 is now acting as support for the stock. After hitting 16.85 stock retested the level of 13-13.5 and headed towards a higher level.

Looking at the chart structure we recommend investors and traders to Hold the stock in the portfolio with a clear stoploss of 12 on a closing basis. If Stock surpasses the minor resistance of 17. We expect to get doubled in the next 1 year. Expected targets are 30-40.

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