Stock picks by Religare Broking: Buy Bharti Airtel, Godrej Consumer

Airtel's stock has surpassed the hurdle around 540 levels

Buy Bharti Airtel Limited

Last Close: Rs 546.25

Initiation range: Rs 540-545

Target: Rs 570

Stop loss: Rs 530

Bharti Airtel has been witnessing correction for the last three months or so, after making a record high at 609.55 in May 2020. It retraced closer to the support zone of the long-term moving average (200 EMA) on the daily chart and spent nearly a week around that zone. Finally, it has witnessed a sharp surge in Tuesday's (September 1) trade with noticeable rise in the volume and also surpassed the hurdle around 540 levels. We advise utilizing any dip in the given range