Top buzzing stock: Bharti Airtel Ltd

Top buzzing stock: Bharti Airtel Ltd

by 5paisa Research Team Last Updated: Dec 11, 2022 - 09:39 pm 28.7k Views
Listen icon

The stock of BHARTIARTL surged over 2% on Tuesday’s trading session and is one of the top gainers among Nifty stocks.

Bharti Airtel Limited is a telecommunications company that provides voice and data telecommunication services through wireless as well as fixed line network and broadband technology. Having a market capitalization of over Rs 4 lakh crore, it is one the strongest company in its sector.

The stock of BHARTIARTL surged over 2% on Tuesday’s trading session. It witnessed a correction of about 7% from its prior swing high of Rs 761 before testing the support of Rs 700 level. On the technical chart, the stock has formed a strong bullish candle with its open=low scenario. In the past two days, it has received strong buying interest at lower levels and has surged about 4%. During this period, above-average volumes were recorded which justified buying interest among the market participants. After today’s surge, the stock has crossed above 50-DMA and 100-DMA.

The technical parameters indicate an improvement in the stock’s strength in recent times. The 14-period daily RSI (45.94) is pointing northwards and indicates recovery. The MACD line and the signal line are converging, indicating a possibility of bullish momentum. Interestingly, the On Balance Volume (OBV) shows similar characteristics as that of RSI and points to rising strength from the volume’s perspective. Meanwhile, the KST and TSI indicators also show improvement in the stock’s price structure.

On a YTD basis, the stock has outperformed Nifty. The former has gained over 5% as against a negative 6% of the latter. Considering the bullish price structure and good volumes, followed by improving strength as indicated by technical parameters, we expect the stock to trade higher in the coming days. It has the potential to test the level of Rs 750 and above in short period. Moreover, it presents a good opportunity for swing trading. Traders can include this stock in their watchlist to track further development in the stock.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
NTPC Enters JV Agreement with Maharashtra State Power Generation

NTPC Green Energy Limited, a subsidiary of NTPC Limited, has partnered with Maharashtra State Power Generation Company Limited (MAHAGENCO) to lead the development of renewable energy parks in Maharashtra.

Happiest Minds Partners with Secureworks for Advanced XDR Services

Happiest Minds Technologies has recently announced its collaboration with the Secureworks Global MSSP Partner program to address the escalating need for Extended Detection and Response (XDR) services worldwide.

Supreme Court Rejects Vedanta's Request to Reopen Sterlite Copper Plant

The Supreme Court's recent dismissal of Vedanta's plea to reopen its Sterlite Copper smelter plant in Tamil Nadu's Thoothukudi marks a setback for the mining giant. The plant was shut down in 2018 following violent protests that resulted in casualties.