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VODAFONE CONTINUES EFFORTS TO MAKE DEAL WITH EU - Capital Street FX

17-Feb
19:40 IST

Vodafone’s stock is currently trading at 150.73-higher by 0.60% as compared to its previous close.

According to report the company has filled on European commission website showing effort to allay EU antitrust concerns regarding the companies plan to create biggest mobile tower network in Italy.

Vodafone submitted his offer in Friday but EU extended its deadline for a decision on the deal to March 6. EU will also ask for feedback from companies’ rivals and also from consumers, weather to accept the deal or open a full-scale investigation.

The Italian company Mobile virtual network operator wants the companies to provide access to their network if deal happens. The also wants to access to their 5G infrastructure.

The beleaguered Indian wireless carrier Vodafone Idea will pay 490 million in telecom dues to the federal government by 21 February. The government forced the mobile companies to pay all dues as after the supreme court threatened the companies with contempt proceedings for failing to implement an earlier rulings

On the technical front, the slope of 13-day and 26-day EMA suggest that inertia of the market down. The MACD histogram indicates that bears are dominant right now. The volume is very low and formation of spinning top candle suggest market is indecisive.

Overall Bias is positive and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

TRADE SUGGESTIONS- SELL @ 150.15 STOPLOSS @ 149.70 TARGET @ 151.05

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