Sell Bharti Airtel, target Rs 300: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi of Sharekhan by BNP Paribas has a sell call on Bharti Airtel with a target price of Rs 300.

The current market price of Bharti Airtel is Rs 358.80.

Time period given by the analyst is one week when Bharti Airtel price can reach the defined target.


Gaurav Ratnaparkhi recommended keeping a stop loss at Rs 373.

"The stock has formed a multi-week distribution near the junction of 40-week exponential moving average & the weekly upper Bollinger Band. The two in combination generally act as a key hurdle zone & the same was witnessed this time as well. As a result, the stock is tumbling down sharply. The short-term momentum indicator has triggered bearish crossover & the medium term momentum indicator is about to start a downward cycle," Ratnaparkhi said in a report.

Bharti Airtel, incorporated in the year 1995, is a large-cap company (having a market cap of Rs 1,43,946.38 crore) operating in the telecommunications sector.