Bharti Airtel on daily chart was in downtrend for last 9 months. It made double bottom as shown in figure which indicates reversal in trend. In the short term trend reversal is confirmed by higher highs stock is making on daily chart. Also it has made Head and Shoulder pattern and today gave breakout from that as shown in the chart. It also broke 100 DMA today below which it was trading for long time. Stock is trading well above 20 and 50 DMAs but below 200 DMA which indicates stock is bullish in short term but bearish in long term.
Stock can be bought at CMP with short term target of 340.
Stop loss at 312 recommended.
CMP - 321.4
