Monday, February 25, 2013

Bharti Airtel

Bharti Airtel

Bharti Airtel seems to be a good bet to go long.
Stock corrected to some extent to 61.8% retracement and found support at the bottom of an upward trending channel.

Stock reversed its trend from the trend in which it was for almost 1 and half year and entered into an upward channel.

Short Term:

Stock found support at 290 levels which seems to be bottom of the newly entered upward channel.Stock may see strength once it crosses and closes above 312.
50 Dema is at 323
200 Dema at 312.

One can go long on it above 312 for a target of 323/340 in shorter term with SL at 290

Long Term:

Stock changed its trend and moving upwards. Stock changed its direction on 30/08/2012 and moving upwards. Stock found a strong support at 290 - 289 levels and inching up. If breaches, stock may see lower levels. Go long on the stock with strict SL at 289 for targets of 400/422/447.

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