Long in Airtel: Buy
Buy Airtel at CMP.
The stock is oversold both on STC and MFI. ROC moving towards 0 from below and today the stock broke it's resistance of 533 with volume.
First and immediate target is 545-550 which may take some time to break, support at 533. Second target is 575. However this time I think that the stock will break it's long term resistance of 610-620 if it crosses 550 on a closing basis. In 3-6 months expected to rally to 700.
The stock is oversold both on STC and MFI. ROC moving towards 0 from below and today the stock broke it's resistance of 533 with volume.
First and immediate target is 545-550 which may take some time to break, support at 533. Second target is 575. However this time I think that the stock will break it's long term resistance of 610-620 if it crosses 550 on a closing basis. In 3-6 months expected to rally to 700.
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