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Bharti Airtel turned weak in the later half of last week and fell towards the short-term support at Rs 840. As indicated last week, the 200-day moving average and the long-term trend line positioned at Rs 840 should hold if the medium-term outlook has to stay positive.

A firm close below this level will make the outlook overtly negative in the stock and will imply that a long-term correction could have commenced in Bharti.

The resistances for the week ahead would be at Rs 965 and then Rs 1,000. Traders can go short if the stock fails to cross above Rs 965. Investors can hold the stock with a stop at Rs 730.

— Lokeshwarri S. K.

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