Bharti Airtel will do well if it breaks Rs 365-370 range: Deepak Mohoni
A move past Rs 365-370 takes it out to that range and that could be an interesting breakout and it has to be a much higher base than what it had formed about a year ago.
By 
| Updated:
| Updated: In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, shares his investment ideas.
What is your take on Bharti Airtel?
At this point of time, there is hardly any stock that is not looking good. Bharti Airtel could be interesting because it has been in a range now for about 6-7 months. It is in a sideways move between Rs 310 and Rs 370 for close to 6-7 months, which is quite unusual. We have not got too many stocks that went sideways during that time. So, a move past Rs 365-370 takes it out to that range and that could be an interesting breakout and it has to be a much higher base than what it had formed about a year ago. So, that could augur very well for Bharti but that breakout has still not happened. At the moment if you are chasing momentum, may be this is not yet the stock.
What is your take on Bharti Airtel?
At this point of time, there is hardly any stock that is not looking good. Bharti Airtel could be interesting because it has been in a range now for about 6-7 months. It is in a sideways move between Rs 310 and Rs 370 for close to 6-7 months, which is quite unusual. We have not got too many stocks that went sideways during that time. So, a move past Rs 365-370 takes it out to that range and that could be an interesting breakout and it has to be a much higher base than what it had formed about a year ago. So, that could augur very well for Bharti but that breakout has still not happened. At the moment if you are chasing momentum, may be this is not yet the stock.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
