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Bharti Airtel emulated the moves of the other pivotals in trading within a narrow band last week. The stock is still struggling with the resistance at Rs 950. But it can move higher to Rs 985 or Rs 1,030 next week. Aggressive traders can go long on this counter with a stop at Rs 890. Others can buy the stock once it moves past Rs 970.

However, we continue to advise caution for the medium term. Bharti appears to be in the second leg of the correction that began from the October 16 peak. The third wave down can drag the stock lower towards Rs 750 again. A move above Rs 1,030 is needed to make the medium-term outlook positive.

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