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Bharti Airtel

BUY @ CMP 283, TARGET 340 to 360, STOP LOSS 275.



Analysis : In upcoming period we have bullish view on Bharti Airtel , As per the Band theory prices show strong support on fear band at 280, In the past we saw  weakness in Bharti Airtel, It shows descending channel pattern from high level 375 to low level 280 on daily basis. As per Band theory its looks like at 280 level descending channel is a halt and new positive trend has stared. In coming months we can see  positive reversal from fear band support level 280 to upside 340 and 360 plus....if we take past analysis whenever prices fall or rise it gives nearby 61.8% retracement, so 340 is our first target in coming period.   

It has made an inside bar pattern and has halted the downtrend. Any close above 292 will gain strong momentum. The RSI Indicator is rising from oversold level showing positive divergences, We advice make long positions at cmp 283 with upside target of 340,360 plus and 275 is the stop for this trade. This is portfolio buy call with good risk rewards.

  1. At 38.2%  retracement - 315
  2. At 50.0% retracement -  330
  3. At 61.8% retracement -  340
  4. At 78.6 retracement  -    360
  5. At 100% retracement -   375  



(25.02.14)


Bharti Airtel (Daily Chart)



























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