Sunday, December 6, 2009
Bharti Airtel - Looks like the worst is out - Buy it.
See the attached chart. Bharti Airtel is bouncing back with conviction on the charts. The strong reason for BUY are,
1) Double Bottom. The stock takes support at 274 which also is a previous low & bounced back. Theoratically it should rise 50% of the fall from top.
2) The falling trendline has been arrested with rising tops. The trend reversal is clearly visible.
I suggest a buy on. Close - 310, Sl - 303, T-355, RR-1:6