Trade Idea of The Day - Bharti Airtel Ltd Target Rs. 48 - Religare Broking Ltd
Bharti Airtel Ltd
BUY 25 AUG 1940 CALL SELL 25 AUG 2000 CALL Entry Range 18 – 20 Target 48 Stop Loss 10
Rationale
1. BHARTIARTL continues to maintain a bullish reversal pattern on the daily chart with sustained trading above the 20-DEMA and 50-DEMA, indicating buying interest and strengthening the medium-term bullish trend.
2. The stock prices has formed a series of higher highs and higher lows while respecting the rising trendline, suggesting that buyers remain in control and every decline is attracting fresh accumulation.
3. Momentum indicators are supportive, with the RSI holding above the 55 mark and the MACD sustaining a positive crossover, reflecting improving momentum and the potential for further upside.
4. A sustained trading above the 1900-1910 zone keep the bullish structure intact with immediate upside potential of 2000 level in the coming sessions.
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SEBI Registration number is INZ00017433
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