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This stock recorded an intra week low at Rs 706.7 on Monday before staging a turnaround. Bharti Airtel has key long-term support at Rs 700 since this is the 50 per cent retracement level for the move recorded between June 2006 and October 2007. The first target for the third leg of the down-move from October peak too falls at Rs 700. The stock can form a long-term trough at this level. However, if this level is breached, the next support is at Rs 632.

The near-term trend stays in the stock is sideways. It can move between Rs 700 and Rs 850 for a few more sessions. Traders should tread warily around the resistances at Rs 825 and then Rs 850.

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