Adani eyes 5G pie: Airtel, Voda Idea need to hold these levels going ahead

Bharti Airtel and Vodafone Idea can slip into a bear trap if these key supports levels are breached; MTNL by far seems a safer bet.

Shares of Bharti Airtel cracked over 4 per cent in trades on Monday, while those of Mahanagar Telephone Nigam (MTNL) and Vodafone Idea soared 15 per cent and 5 per cent, respectively.

The stocks were seen reacting to the news of Adani Group's likely foray into the telecom sector. 

The Adani group has shown interest in the government’s upcoming telecom 5G spectrum auction. The group, however, clarified that the company does not intend to enter the consumer mobility space. 

The decision by Gautam Adani to participate in the spectrum auction to create the group's own private networks to