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Bharti Airtel’s stock saw a fresh breakout on Thursday. It also marked a record high of ₹1,281.40 before ending the session a bit lower at ₹1,267.20. The chart indicates that the stock is likely to hit further highs in the coming sessions.
In the near future, Bharti Airtel’s stock can be expected to touch ₹1,400. That said, we might see a minor decline in price, possibly to ₹1,250, from the current level before the next leg of the rally. So, traders can buy Bharti Airtel now at ₹1,267 and add longs if the price dips to ₹1,250. Place initial stop-loss at ₹1,200. When the stock crosses over ₹1,320, raise the stop-loss to ₹1,290. Tighten the stop-loss further to ₹1,320 when the stock goes above ₹1,350. Book profits at ₹1,400.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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