Shares of Bharti Infratel hit over 2-month high, and technicals signalled further upside.
Telecom tower provider Bharti Infratel rose as much as 4.3 per cent to Rs 343.70, highest since January 30.
The stock's 20-day simple moving average (SMA) had crossed above its 50-day SMA on Monday, a bullish signal for the stock.
The chart pattern showed double-bottom reversal after finding support near Rs 282.
Trend Intensity indicator (TI) rose to 16, indicating start of an uptrend. MACD is also positive and above its signal line.
The stock's mean price target is Rs 364, according to Eikon data.
Bharti Infratel stock had fallen 4.05 per cent this year as of Monday's close, compared with a 12.85 per cent gain on the NSE index.