Baharti Airtel on weekly charts confirmed a double bottom at 282 and crossed the neck line by moving above 385. Target of that comes around 485. Meanwhile 450 is the top made in July -2015 and in August-2011. So it is a buy on any dips to 408 with a stop loss of 397 on closing basis.
Short tern target of that is around 450 and then 485.
On monthly charts also 448 is 61.8% retracmnet so if stock moves above the 450 this stock will be extremely bullish next target then will be 511 the 78.6% retracment.
The only problem is as of now stock is forming a morning a bearish doji pattern. But as month is not yet finished so this candle can change any time.
Disclosure: I am not a SEBI certified analyst so before acting on this call please take your own call. Further i hold the stock in my portfolio.
Short tern target of that is around 450 and then 485.
On monthly charts also 448 is 61.8% retracmnet so if stock moves above the 450 this stock will be extremely bullish next target then will be 511 the 78.6% retracment.
The only problem is as of now stock is forming a morning a bearish doji pattern. But as month is not yet finished so this candle can change any time.
Disclosure: I am not a SEBI certified analyst so before acting on this call please take your own call. Further i hold the stock in my portfolio.
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