In a previous blog entry, we explored the performance of Bharti Airtel, noting its formation of a broadening wedge pattern. Following a successful retest, the stock managed to deliver a substantial profit return, approaching nearly 30% from the mentioned level (801). Despite these gains, brokerage houses continue to express optimism about the stock.
JM Financial, for instance, has issued a buy recommendation for Bharti Airtel, setting a target price of Rs 1125. As of now, the current market price for Bharti Airtel Ltd. stands at Rs 992.
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