Bharti Airtel (BUY, between Rs312-314, Target Rs331): Bharti Airtel after recent correction is currently trading near strong support which corresponds to 50% Fibonacci levels and followed with support of long term moving average of 200 days. Though stockprice closed in the negative terrain in yesterday ‘s trading session, but prices have managed to bounce back sharply from the support levels of Rs310 levels. Daily RSI too has been trading near its 3 month trough of 32 levels and there is high probability that stock to post decent recovery from these levels. We advise buying stock in the range of Rs312-314 with stop loss of Rs306 for target of Rs331 (duration 5 days).
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