Makar Sankranti Pick – Both Target Achieved Bharti Airtel Ltd by Choice Broking Ltd
Buy Bharti Airtel Ltd @ 1622 & add Upto 1575 the Target of 1790/1875
BHARTIARTL is currently trading at 1.622 and is in a period of consolidation, forming a symmetrical triangle pattern on the weekly chart. The stock is hovering near key support levels, which suggests the potential for a reversal and the emergence of a strong bullish trend. A breakout above the immediate resistance level of Rs 1,640 could lead to a sharp upward move, targeting the next resistance levels at Rs 1,790 and 21,875, with intermediate resistance expected at Rs 1,680.
The technical indicators support a bullish outlook for the stock. The Relative Strength Index (RSI) is currently at 55.43, signaling a growing potential for upward momentum and increased buying interest. Additionally. BHARTIARTL is trading above its 20.50. and 100-day Exponential Moving Averages (EMAS). which strengthens the case for a continued bullish trend in the medium term
On the downside, the critical support levels are positioned at 1.575 and 1,560. Any dip towards these levels could present a buying opportunity for traders. As the stock shows promising technical indicators and a favorable setup, accumulating positions on dips near these support levels could be advantageous. Traders should focus on maintaining proper risk management strategies to manage market volatility while targeting price levels of 1,790 and 1,875
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