Bharti Airtel’s share price surged 3% today in the first hour itself. The stock opened at 924 levels and the previous day closed at 924.55, today stock made a low of 921.05.
The 52-week high of the stock was 948 and the low of the stock was 736.
Stock is trading above all stock term moving averages and RSI stood at 72.07.
Why did Bharti Airtel share price surge today ??
Both telecom companies Bharti Airtel and Vodafone have taken their pleas to the Supreme Court for the alleged calculation errors in determining the AGR dues.
In response to their plea, the Supreme Court has agreed to consider the matter and conduct an open court hearing.
As per the technical view, we have seen a breakout in the stock after the 14-day consolidation. we need to see a positive close above the 52-week high of 948, after that only we can see further move in the stock.