Initiation range: 550-554
Bharti Airtel has witnessed a fresh breakout from a consolidation range after spending nearly two months It strongly upheld the support zone of long-term moving average( 200 EMA) on the daily chart throughout that phase. Indications are in the favor of a steady rise from hereon. Traders shouldn't miss this opportunity and create fresh longs in the mentioned zone.
Initiation range: 141-143
Gail has witnessed a fresh breakout on Tuesday, after spending nearly one and a half months in a consolidation range. The chart pattern indicates the possibility of a strong surge in the near future. We thus suggest creating fresh longs in the given range.
Recommendation: Sell May Futures
Initiation range: 318-320
We’re seeing a mixed trend within the banking pack and Bandhan Bank is seeing selling pressure on every rise. It has been trading below the long-term moving averages on multiple time frames as well which further adds to the negativity. We feel traders should maintain few short positions also in the current market scenario.
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Note: All prices are in Rs
Disclaimer: Ajit Mishra is VP - Research at Religare Broking.
 "Bharti Airtel has shown a breakout")