Well Let us look at the daily chart
Bharti Enterprises stock has a stiff resistance at 370
As you can see in the daily chart above: Bharti stock in last 2 years has many times come off from 370. This level has become a psycological barrier for the stock and as long as stock trades below 370 -it will lack momentum. Having said that considering Bharti has lots of weightage on Nifty, it will always find support at lower levels.
Lets plot 50 dma on the same chart
Bharti is right now at 50 dma and one cannot rule out strong buying support at current levels to take the stock once again back to 370. Remember - last time Bharti stock got big lift from 50 dma. Will that happen again? Technically YES, but no guarantee.
Historically it has been seen that when markets turn sideways - it is stocks like Bharti that tend to outperform. Will that happen again? I don't know - we will see
The blogpost is purely for educational purpose. Please do your own due diligence before trading