Trade Idea of The Day - Bharti Airtel Ltd Target Rs. 65 - Religare Broking Ltd
Bharti Airtel Ltd
BUY 29 SEP 1960 CALL Entry Range 30 – 35 Target 65 Stop Loss 25
Rationale
• On the daily chart, BHARTIARTL witnessed a bullish reversal from the recent consolidation phase, as the stock recovered strongly and reclaimed its short-term moving averages, indicating improving buying interest and a positive near-term bias.
• From the technical perspective, the stock has remained resilient near the rising trendline support, highlighting sustained demand at lower levels. As long as this trendline holds, the uptrend remains intact.
• 14-Day RSI is hovering above the 50 mark, suggesting balanced momentum with scope for further improvement, while the MACD remains subdued but could witness a positive crossover with sustained strength.
• Going ahead, sustained trading above the moving averages may trigger upside towards the 1980-2000 zone. On the downside, 1920-1910 will remain the support zone.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
