Telecom Stocks to Watch: Bharti Airtel, Reliance Industries, and Indus Towers
Bharti Airtel, Reliance Industries, and Indus Towers are set to remain under the spotlight of traders. Here's what analysts say about these telecom stocks ahead of Wednesday's trading session.
Telecom StocksBharti AirtelReliance IndustriesIndus TowersStock MarketTechnical AnalysisReal Estate NewsJul 03, 2024
According to Pravesh Gour, Senior Technical Analyst at Swastika Investmart, Bharti Airtel has been experiencing a remarkable bull market, showing significant strength recently. The stock is expected to continue its rally, with a current support at its 20-day moving average (DMA) of Rs 1,414. If the stock slips below this level, it may weaken to the next support at Rs 1,365. On the upside, the first resistance is at Rs 1,490, and if the stock breaks and sustains above this level, it could move towards Rs 1,600 in the short term.
Reliance Industries, amid the tariff hike news, has shown strong momentum recently. The stock has recently given a breakout from a trendline resistance and surged to its all-time high level of Rs 3,162. Currently, the stock has been forming a flag pattern at higher levels. A breakout above Rs 3,162 could lead to a rally towards Rs 3,250 and Rs 3,333 levels in the short term. On the downside, the first support is placed at Rs 3,100. Any slip below this could lead to the important support level of Rs 3,000.
Indus Towers has recently witnessed a flag formation breakout on the daily chart. As the charts look very promising, the stock can continue this rally further to Rs 444 and Rs 500 levels in the short term. On the downside, the important support is at Rs 350, where the 20 and 50 DMAs are placed.
Information
Swastika Investmart is a leading financial services company that provides research-based investment advice to its clients. The company has a team of experienced analysts who provide daily market updates and stock recommendations.
Reliance Industries Ltd is a multinational conglomerate headquartered in Mumbai, India. The company operates in various sectors, including energy, petrochemicals, textiles, and telecommunications. Bharti Airtel Ltd is a leading telecommunications company that provides mobile, fixed line, and broadband services in India and globally. Indus Towers Ltd is a leading provider of tower infrastructure in India, with a portfolio of over 180,000 towers.
Disclaimer This article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Frequently Asked Questions
What is the resistance level for Bharti Airtel?
The resistance levels for Bharti Airtel are Rs 1,490-1,600.
What is the support level for Reliance Industries?
The support levels for Reliance Industries are Rs 3,100-3,000.
What is the target price for Indus Towers?
The target price for Indus Towers is Rs 444-500.
What is the current trend for Bharti Airtel?
Bharti Airtel is currently in a bull market, showing significant strength.
Who is providing the technical analysis for these stocks?
The technical analysis is provided by Pravesh Gour, Senior Technical Analyst at Swastika Investmart.
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