Here’s the Bharti Telecom Chart
Message # 1: The stock has a defined resistance at 370. It means that’s the best one can hope for in very Bullish market environment. The momentum crowd will trade in the stock only above 370.
Message # 2: There is no enthusiasm among trading community in the stock and it is barely holding to a trend line with support near 300. But that support does not count for much as there is no aggressive buying that seems to be taking place.
Message # 3: Any weakness in market and Bharti would be the first stock to break down and race towards 250.
What does this all mean?
Bharti Telecom stock is trending sideways to down and is Avoid. It can find support around 300 but the support does not look trustworthy.
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