June 7, 2019 / 6:09 AM / a month ago

BUZZ-India's Bharti Airtel at near 9-mth high; chart points to more upside

** Shares of Bharti Airtel Ltd gain as much as 2.04% to 361 rupees, highest since Sep 10, 2018

** Stock breaks above a resistance at 355.2 rupees, the 38.2% Fibonacci retracement level of the downtrend from Nov 3, 2017 high to Oct 22, 2018 low tmsnrt.rs/2QQ9wWD

** Breakout suggests that in the near-term stock may rise up to the next resistance at 386.39 rupees, the 50% retracement level

** Trend intensity (TI) indicator rises to 19 which suggests prices are trending upwards

** MACD is positive and above its signal line

** Stock up 23.3% this year as of last close, outperforming the broader NSE Index’s 9% gains in the same period (Reporting by Gaurav Dogra)

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