has been trading in a range since the past few months and the average volume
has been decreasing as well. This makes for a scenario of either distribution or accumulation by the institutions. I personally think this is distribution. Reasons for this include, Bharti Airtel
has been hyped up in the news since many weeks and brokerages are increasing the ratings of Airtel to buy. Fundamentally speaking, Airtel is nowhere as strong as Jio. Airtel also has been losing many subscribers to its major competitor, which is Jio. There is a slight chance that this range is an accumulation stage. Reasons include, first, Vodafone Idea is struggling badly to survive. It has the highest amount of Adjusted Gross Revenue dues. I can see Idea filing bankruptcy in few months, provided Vodafone UK doesn't come to its rescue. And I think that institutions might know this insider news and have started buying Airtel, as once Vodafone Idea is gone, then only two telecom companies would be left, Airtel and Jio. And recently Jio's services have somewhat been deteriorating, a sign of cost saving, and this means there is scope
for improvement in Bharti Airtel
and its future may be secure. But as we know price is king, so wait for price and volume
to tell this to you and once you have confirmation, without hesitation go for long in Airtel. But a breakdown of the yellow range will mean a start of downfall for Airtel and then remember that the range was distribution and not accumulation/
This is an educational post and all the opinions provided above and on charts are simply speculation. Nothing is 100% in market.
Consult your financial advisor before taking trades
I do not recommend taking trades according to my analysis as you may incur loss, for which I am not responsible.