Traders like two types of stock: one that goes up or one that goes down. What trades don't like are the stocks that don't exhibit any trend and just move in circles. Bharti Airtel has been one of the most trendless stock in large caps since last few years.
Here's the Weekly Chart
As you can see in the chart above - for years now - stock is moving in circles between 260-280 on the downside and 440 on the upside. It's not just the weekly stock but also the daily stock chart that does not exhibit any clear trend. Have a look at the daily chart
What does this mean?
Bharti stock is Avoid and one should not make any educated guess on trendless stock.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers