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Bharti Airtel moved sideways after recording an intra-week high of Rs 985. There could be weakness in the short-term that pulls the stock lower to Rs 913 or Rs 874. A halt above Rs 913 would mean that the stock would move past Rs 1,000, towards our medium term target at Rs 1,034. Momentum indicators too portend short-term weakness, though the medium-term outlook stays positive.

The stock is poised at important juncture from a medium term perspective. A reversal from here would mean that the stock can consolidate in the band between Rs 750 and Rs 1,000 for a few months. Traders can utilise dips to Rs 913 to buy the stock with a stop at Rs 870.

— Lokeshwarri S. K.

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