Time frame: Three months
Derivatives & Quantitative Outlook
- The Nifty is exhibiting signs of recovery after sharp declines of almost 10% since mid October. Select stocks from the communication sector may witness renewed momentum amid broader market volatility. Stocks like Bharti Airtel is likely to perform better in the coming trading sessions along with the ongoing recovery seen in sectoral peers
- Recently, the Nifty witnessed long liquidation. Due to that, the December series of Nifty open interest (OI) is one of the lowest seen in the last 3 months. At the same time, most of the stock futures have started the December series with significantly low open interest. Open interest in Bharti Airtel is at 18 month low indicating significant room for fresh additions in the stock. After recent correction up to its Put base of 700, we have seen fresh accumulation at lower levels and we believe stock to find fresh strength in the coming days.
For details, click on the link below: Link to the report
Shares of Bharti Airtel Limited was last trading in BSE at Rs. 710.60 as compared to the previous close of Rs. 713.90. The total number of shares traded during the day was 420273 in over 7054 trades.
The stock hit an intraday high of Rs. 718.80 and intraday low of 707.05. The net turnover during the day was Rs. 298580750.00.
Source : Equity Bulls