Vodafone Idea, TTML, MTNL can rally another 35-40% from current levels

Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.

Bharti Airtel Ltd (BHARTIARTL)
Likely target:  Rs 710
Upside potential:  6%

The overall structure of the Bharti Airtel shows formation of a “Head and Shoulder” pattern, suggesting a weaker trend. This downside move has tested and managed to reverse at the crucial accumulation and a breakout range of Rs 640 to Rs 620 levels. The current positive bias aims at reaching the Rs 720 mark, which is the significant hurdle at current situation. The immediate support is positioned at Rs 660 levels. CLICK HERE FOR THE CHART

Vodafone Idea Ltd (IDEA)
Likely