Bharti Airtel Limited (BHARTIARTL) Stock - Complete Technical Analysis - Dec 23, 2024

Bharti Airtel Technical Analysis Short-Term Reversal or Long-Term Bullish Trend December 2024 Up

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Bharti Airtel Limited (BHARTIARTL), currently priced at 1,578, is showing mixed signals in terms of both short-term and long-term price movements. The stock has experienced a 11.29% drop from its 52-week high of 1,779, but is still up 64.39% from its 52-week low of 960, recorded in December 2023. Analyzing key technical indicators, we see that the Average Directional Index (ADX) is at 16.74, which indicates weak trend strength, suggesting that the stock is in a consolidation phase. The Relative Strength Index (RSI) of 45.09 shows that the stock is neither overbought nor oversold, leaving room for potential price movement. A bearish engulfing pattern has also appeared, suggesting a potential for short-term price reversal, which could align with the drop from 1,622.30 to 1,573.40 on December 20, 2024.

Looking at moving averages, the stock is below the 10-day simple moving average (SMA) of 1,611.77, signaling a short-term bearish trend. However, it remains above the long-term 200-day SMA of 1,463.68, indicating overall bullish sentiment in the longer term. The stocks momentum indicators, such as the MACD and Momentum, are pointing to a slight bearish trend, but the Awesome Oscillator, at 31.96, shows that there is still some positive market momentum. In terms of price action, Bharti Airtel has been showing volatility, with significant fluctuations in its daily price range. On December 20, 2024, the stock opened at 1,610 and dropped as low as 1,573 before closing at 1,578. This indicates that the stock could continue to experience volatility in the short term.

For traders, monitoring the support and resistance levels will be crucial. A key support level is the Classic Pivot support at 1,542.47, and if the stock holds above this level, it could signal a potential upward movement. However, if it breaks below this support, further downside risk may materialize. Given the overall market sentiment and current indicators, Bharti Airtel appears to be consolidating with a slightly bearish bias in the short term but remains bullish over the long term. Traders should stay vigilant for any breakout or breakdown in the near future, as the stock is highly sensitive to market conditions.