Bharti Airtel looking strong at current level. After correcting from 540 levels it has formed base at 375 - 380. Currently stock has broken out of a falling wedge pattern and has also formed a downward channel pattern formation. One can go long here with Targets - 412/421/432/437. SL- 392
The stock can also possibly form a Head and Shoulder pattern.
NIFTY consolidating on the weekly chart forming a pitch fork. Likely to move towards 11500 this year. If loses support of the median line (magenta colour) it may 8995-9000 levels to cover the gap it formed (in the yellow highlighted box in the middle), before regaining momentum.
MACD and RSI suggest a positive outlook in the near term though 10650-10700 can be a...
ITC holding very strong on a trend line since 2008-2009. It has once again taken support at 250-255 on the same trend line and bounced back. One can go long in this counter with target of 300-305 in short term, 330-335 in medium term.