Hold Bharti Airtel, may rally to Rs 260: Bothra

One can hold Bharti Airtel, if crosses the level of Rs 245, as the stock is expected to rally to Rs 260-262 levels, says Kunal Bothra, Sr Technical Analyst at LKP.

Bothra told CNBC-TV18, "Looking at the candlestick charts of Bharti Airtel for two days; on Thursday and Friday it had a doji pattern which we call, it’s a reversal pattern especially at significant tops and bottoms. So the short-term charts indicates that if the level of Rs 245 which was the previous support and if that gets, hold the stock it might rally to Rs 260-262 levels." He further added, "Its very early to call a long-term bottom. I would wait for key reversals or stock consolidating in this range of Rs 245 and Rs 260. I think if that happens the stock does not go below Rs 240 then it a significant turnaround for the stock." Disclosure: No personal holdings in any of the stocks but at LKP we keep recommending these stocks to our clients.