IIFL is bullish on Bharti Airtel and has recommended buy rating on the stock with a target of Rs 410 in its August 18, 2011 research report...
IIFL is bullish on Bharti Airtel and has recommended buy rating on the stock with a target of Rs 410 in its August 18, 2011 research report.
“Bharti Airtel (BUY, above Rs398, Target Rs410): Bharti Airtel on the daily and hourly chart has generated trend reversal following formation of ‘falling wedge’ and close around its 50-DMA. The stock has already went through correction phase from a high of Rs448 and after formation of ‘falling wedge’ the stage is set for prices to bounce back towards Rs415 in the near term. 100-DMA provided strong support on the declines in yesterday’s trading session.”
“A close above its 50- DMA with strong volumes in today’s trade could see the stock heading towards Rs415-420 levels. A positive crossover on daily RSI above the 40 mark, reinforces strength in the counter and at times of volatility in broader markets stock could act as a defensive bet. We advise buying above Rs398 with stop loss of Rs 393 for target of Rs 410,” says IIFL research report.
IIFL is bullish on Bharti Airtel and has recommended buy rating on the stock with a target of Rs 410 in its August 18, 2011 research report.
“Bharti Airtel (BUY, above Rs398, Target Rs410): Bharti Airtel on the daily and hourly chart has generated trend reversal following formation of ‘falling wedge’ and close around its 50-DMA. The stock has already went through correction phase from a high of Rs448 and after formation of ‘falling wedge’ the stage is set for prices to bounce back towards Rs415 in the near term. 100-DMA provided strong support on the declines in yesterday’s trading session.”
“A close above its 50- DMA with strong volumes in today’s trade could see the stock heading towards Rs415-420 levels. A positive crossover on daily RSI above the 40 mark, reinforces strength in the counter and at times of volatility in broader markets stock could act as a defensive bet. We advise buying above Rs398 with stop loss of Rs 393 for target of Rs 410,” says IIFL research report.