Technical chart: Is this the right time to buy Vodafone Idea shares?

Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea.

Post the Government of India approved to convert interest dues into equity holding, shares of Vodafone Idea noticed a sharp surge on Monday. The stock closed 20 per cent higher, with daily volumes hitting a one-year high. 

However, on Tuesday the share price took a hit losing 3.50 per cent in the morning intraday deals, signalling a reversal right near its most crucial moving average. 

The question on the dalal street is –Will Government move provide booster dose to the Vodafone Idea shares, which have immensely underperformed in the recent months? The stock trades 32 per cent lower from its