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The short-term correction in Bharti Airtel halted above the support at Rs 800 and the stock has resumed its uptrend, as we had anticipated. The targets for this move are Rs 894, Rs 948 and then Rs 1,034.

Partial profits on short-term positions can be booked in the band between Rs 945 and Rs 960.

As indicated earlier, the move from Rs 750 could be an impulse wave, since the correction preceding this trough retraced 30 per cent of the gains made since June 2006. A move past the previous high would confirm this assumption.

Investors can hold with a stop at Rs 800. Traders can buy in dips with a stop at Rs 880.

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