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The stock of Bharti Airtel took an ominous turn on Thursday, plunging 11 per cent in the last two sessions of the week.

The short-term trend has turned down again. But the stock has immediate support at Rs 900. The next support band would be around the 200-day moving average positioned at Rs 840. A close below Rs 840 would call for recasting the e-wave counts in the stock.

The medium term outlook for the stock will stay positive as long as the stock remains above Rs 760.

Investors can hold the stock with a stop at Rs 750. Traders can watch out for buying opportunity around Rs 840.

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