Trade Idea of The Day - Bharti Airtel Ltd Target Rs. 35 - Religare Broking Ltd
Bharti Airtel Ltd
BUY 25 AUG 1940 CALL Entry Range 36 - 40 Target 70 Stop Loss 27
Rationale
* BHARTIARTL continues to maintain a positive technical structure, with the stock sustaining above its rising trendline and short-term moving averages, indicating continued buying interest at lower levels.
* The stock prices has recently witnessed a reversal from its 20-DEMA. while its 50-DEMA is already positively aligned, reinforcing the prevailing bullish trend and providing support around the 1900-1920 zone.
* Momentum indicators remain supportive, with RSI holding above the 50 mark and MACD sustaining in positive territory, suggesting that upside momentum may persist in coming sessions.
* Immediate upside potential is 2000, and any decisive break above this zone could trigger fresh buying interest and open the way towards 2050-2,080 zone.
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