Expect Bharti Airtel to touch Rs 450-500: Edelweiss

MUMBAI: Edelweiss is of the view that Bharti Airtel is trading above 52-week SMA as well as 200-SDMA suggesting it has moved into long term uptrend. It has advised traders to buy the stock for target of Rs 450-500 by December end.

“The stock price of Bharti Airtel had been underperforming the benchmark index for almost a year. Since making a double bottom at Rs 250 in July the stock has been gradually rallying higher.

Bharti is now trading above the 52 week SMA as well as 200 SDMA suggesting it has moved into long term uptrend. Momentum oscillators have triggered a buy signal on weekly chart supporting the price action. We expect Bharti to test Rs 450-500 by the end of the calendar year,” the report said.