AIRTELPP trade ideas
BHARTIARTLNSE:BHARTIARTL
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Bharti Airtel - Short term bounce - 696, 706, may be 720 I was short on Bharti Airtel few weeks back and it reached all my lower targets. I see this stock is currently oversold and might see some short term bounces to test levels 696, 706 and may be 720 as well. Year end market float might also support the stock bounce. Its still consolidating sideways on a wider range looking for a direction.
airtelOn Monday, the Department of Telecommunications (DoT) announced that commercial 5G services will be rolled out in 13 Indian cities in India, including the metropolises, in the new year 2022.
According to the DoT release, 5G services could initially be launched in Delhi, Gurugram, Mumbai, Pune, Chennai, Kolkata, Bengaluru, Hyderabad, Chandigarh, Lucknow, Ahmedabad, Gandhinagar, and Jamnagar.
Indian Telecom operators get another major relief soon. The Indian government is currently looking for ways to settle ongoing legal cases with the telcos outside of the court. "The scheme is aimed at offsetting the huge import of telecom equipment worth more than ₹ 50,000 crore and reinforce it with "Made in India" products both for domestic markets and exports," Telecom Minister Ravi Shankar Prasad said in a media briefing after a cabinet meeting.
The scheme outlay is for a period of five years.
Bharti Airtel correction over?Hello Traders, The last trade HCLTECH given yesterday hit the first target and we are booking it in this choppy market.
The next stock is also a one to go long on as it seems the correction in bhartiartl seems to be over and done for.
There's a demand zone near 650 levels which has been tested and stock took a good demand and reversed from here, we'll try to buy after the breaking of first resistance i.e 670.
Buy Above 670
Targets mentioned in the chart above
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Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.