Sell Bharti Airtel, target Rs 270: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "If you look at the medium-term trend for Bharti Airtel, we can clearly see that it was there in upward sloping channel and it tried really hard to get beyond that and see some kind of a breakout but that did not happen. Recently we saw that the channel was broken down, it again saw a pullback to the level of Rs 340 which is again the resistance of the channel but it did not sustain.""All these things combined, we believe the underperformance remains there and over a timeframe of one month we believe that the stock will see some more selling pressure coming into place. So, we expect a target of Rs 270 on the downside and a stop loss for this sell trade can be kept at Rs 325," he said.