Bharti Airtel's Relative Performance Shines
Bharti Airtel is in the news this week as its parent company Bharti Telecom decides to sell 11BN in stock to retire debt. Here’s the relative chart of Bharti Airtel vs the Nifty 50. This outperformance shows accumulation by institutions and suggests that any meaningful weakness will likely be met with buyers. Both the absolute and relative trends in Bharti Airtel suggest that any short-term weakness created by this week’s news should be viewed as a buying opportunity. As long as the stock is above 490 on an absolute basis, its long-term uptrend remains intact and suggests much higher prices in the months/quarters ahead. More info in the blog post linked below.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.