Bharti Airtel, RIL, Nazara Tech: Trading strategies for stocks in news

Here are trading strategies for the stocks in news today.

Bharti Airtel Ltd (BHARTIARTL)
Likely target: Rs 700 and Rs 750
Upside potential: 12% to 18%

Bharti Airtel is struggling to conquer the selling pressure emerging above Rs 600 levels, according to the monthly charts. Only an aggressive close on the monthly chart may result in a breakout that could see a significant move towards Rs 700 and then Rs 750 levels. On the downside, the medium-term supports stays at the Rs 500 level. Till this support is held firmly, the possibility of an upward breakout in the counter is high. The immediate supports are placed at the Rs 580 and Rs 560 levels, as per the daily and weekly charts. CLICK HERE FOR THE CHART

Reliance Industries Ltd (RELIANCE)
Likely target: Rs 2,400 and Rs 2,500
Downside potential:   4.50% to 8.50%

The counter is heading towards the breakout mark of Rs 2,300, as per the weekly chart. A decisive move above Rs 2,300 level may provide room for it to move towards Rs 2,400 and then Rs 2,500 levels. RIL has a support at Rs 2,200 and then at Rs 2,160 levels. The Moving Average Convergence Divergence (MACD) has been resilient to fall below the zero line, signalling a positive direction. the chart pattern indicates more room ahead for the stock in the days ahead. CLICK HERE FOR THE CHART

Nazara Technologies Ltd (NAZARA)
Likely target: Rs 1,900 and Rs 1,960
Upside potential:  4% to 6%

This stock needs to cross the immediate resistance of the Rs 1,840 levels to breakout on the upside. This neckline breakdown mark of “Double Top” can see the selling pressure gain momentum and the counter may struggle to break out on the upside. That said, as long as the support of the Rs 1,700 is defended on a closing basis, the positive bias is expected to prevail and the stock is likely to climb higher towards Rs 1,900 and Rs 1,960 in the medium term. CLICK HERE FOR THE CHART

Tata Motors Ltd (TATAMOTORS)
Outlook: needs to conquer Rs 310 levels.

After breaching 50-days moving average (DMA) and 100-DMA, the positive momemtum in the Tata Motors' stock got punctured.  While the 200-DMA is managing to provide support at Rs 280.40 levels, the negative sentiment needs to see volume-based buying to build a support for a sustainable upside. The Relative Strength Index (RSI) has seen a decent reversal and is nearing oversold territory. Unless the counter does not conquer Rs 310 levels on good volume, the upside may remain capped.  CLICK HERE FOR THE CHART

Burger King India Ltd (BURGERKING)
Outlook:  Needs to conquer Rs 175 levels.

After breaching the trendline support of Rs 175, the stock has entered into a bearish sentiment, as per the daily charts. However, the counter has managed to hold on to the support near 100-DMA (placed at Rs 153.55), tried to reverse trend and made an attempt to conquer Rs 175 levels. Going forward, until this hurdle mark is not overcome, the positive sentiment may not emerge.  When that happens, the rally may this counter hit Rs 190 levels.  CLICK HERE FOR THE CHART