Bharti Airtel - On the verge of breakout - LONG for medium term

Bharti Airtel is near 600 and is getting ready to break out of a range after multiple years of consolidation. Airtel looks good to keep adding customers from VI and BSNL which are on the decline, and are in a position to maintain their financial viability. Stock looks good to move to 700 region if it holds above 600. SL can be kept at 560 on a daily closing basis - below which it will be back to consolidation range. Any positive news on AGR or help from Govt to Telecom sector would see the stock make a much larger move, so good to hold for longer term as well in portfolio.


** Important Note - This post is my own study of the mentioned scrip and the views are given with reservation that they may prove to be wrong. I am not a SEBI registered analyst. Please consult your investment advisor before making financial investments.

Trade active

Comment:

T1 done. On to T2

Trade closed: target reached:

Target is done. But Airtel still looks very positive to continue momentum. Can trail SL for higher targets of 800/900 also in the next 3-4 months.