13 years of Resistance is broken! Bharti Airtel is all set to make the next big bull run. The stock has recently crossed it multi year resistance level of Rs.550 levels and closed much above that.
Stocks when stuck in consolidation phase for a long time, and when it comes out of that range, it can make explosive move. After stuck in range for 13 years, the stock finally broke it resistance and marching upwards and making new high. Its a sign of extreme bullishness.
After the recent Reliance Jio — Facebook tie up, Reliance Jio has raised 1000s of Crores capital by selling its stake with various entity. Mukesh Ambani is betting big on Jio now, he realized Data is the new oil. By introducing Reliance Jio years back with aggressive pricing plans, he almost destroyed every player in the Telecom industry.
Once upon a time we had many mobile operators like
And couple of other players were there, DOCOMO,AIRCEL already gone, Idea-Vodafone even after merging together, they couldn’t sustain, have huge debts, After Jio disruption, best telecom mobile operators are the one who are able to survive.
Since Bharti Airtel is the only other survivor, industry experts are expecting something big from Airtel . Stock price always moves based on anticipation of whats going to happen in near future. And we all know what happen to Reliance when it moved out of its 8 years consolidation range, made almost 200% after the multi year resistance range is broken.
I would not be surprised, if Bharti Airtel also makes 100% returns in the coming months. So yes, this is definitely a right time to get into Bharti Airtel Stock