Investors with a short-term perspective can buy the stock of Bharti Infratel. The company is a leading telecom tower provider in India. After recording a 52-week low at Rs 126 in late August 2013, the stock has been on a medium-term uptrend. A key support at Rs 150 arrested the stock’s minor corrective decline in late October and provided base for the stock. Thereafter, the stock moved higher charting a medium-term uptrend.

It decisively surpassed its 21- and 50-day moving averages while moving higher. It also broke past its important resistance at Rs 164 on November 6 by surging 4 per cent. With this rally, the stock appears to have emphatically resumed its medium-term uptrend. Short-term trend is also up for the stock. The medium-term uptrend line is still in place.

The indicators on the daily chart have entered the bullish zone from the neutral region. The moving average convergence divergence indicator on the daily chart has signalled a buy and is featuring in the positive territory implying upward momentum.

Indicators on the weekly chart are backing the stock’s current bullish momentum. The stock can continue its recent run to hit the price target of Rs 174.5 or Rs 178 in the ensuing trading sessions. Buy the stock with a stop-loss at Rs 164 level.

( Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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