Airtel‘s stock has been a steady uptrend. But in the last couple of sessions, the stock was largely flat, especially during the day. However, this is likely to be only a sideways corrective movement and the broader uptrend remains valid. We expect the stock to resume the rally in the next one or two sessions. Bharti Airtel’s share price will most likely appreciate to ₹1,050 before the end of this week.
So, we suggest buying at the current level about ₹1,031 and place stop-loss at ₹1,020. Book profits when the price hits ₹1,050. But refrain from trading this stock if it opens below ₹1,020 on Wednesday. On the other hand, if there is a gap-up open, wait for the price to dip to ₹1,030 before buying.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)