Invest in stocks or sell them: Last Friday, the Indian stock market closed at a new high, tracking increases in the US and Asian stock markets. The BSE Sensex surged 1,359 points and closed at 84,544, while the Bank Nifty index ended 755 points higher at 53,793.
The Nifty 50 index concluded 375 points higher at 25,790. Thanks in part to the FTSE rebalancing volumes, NSE cash market volumes increased by 43% from the previous session. The Nifty surged more than the broad market indices, although the advance-decline ratio increased more steeply to 2.08:1.
Sumeet Bagadia, Executive Director at Choice Broking, believes that overall Indian stock market bias has turned bullish after the Nifty 50 index climbed to a new peak on Friday. The Choice Broking expert said that sentiments might improve further if the 50-stock index is above the 25,800 mark for a few hours on Monday next week. Bagadia said that the frontline index sustaining above the 25,800 mark would mean a fresh target of 26,300 to 26,500.
Buy at ₹1711.75, aim for ₹1855, and stop loss around ₹1640 for Bharti Airtel. With a current market value of ₹1711.75, Bharti Airtel’s share price is still rising over the long run, regularly making higher highs and lower lows on a daily basis.
With the help of substantial trade volumes, the stock has produced a bullish candle on the daily chart that suggests the uptrend will continue. BHARTIARTL seems ready to resume its upward journey toward new highs if it sustains above the 1725 level after rebounding from its support zones.
Strong buying momentum is reflected in the Relative Strength Index (RSI), which is currently heading upward at 78.47. Furthermore, the stock is trading above all significant moving averages and has rebounded from its 20-day EMA, which supports the optimistic perspective.