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Bharti Airtel demonstrated a bullish breakout above the small falling channel pattern at Rs 1,150 on the weekly chart, suggesting a possible continuation of the medium-term uptrend.
Bajaj Auto recorded healthy performance on all days in the past week, hitting a new closing high of Rs 8,879, and formed bullish candlestick pattern on the daily charts with healthy volumes.
Domestic market benchmark Nifty 50 fell over half a per cent on Monday due to banking heavyweights like HDFC Bank, ICICI Bank, and SBI. Technical experts expect the index to trade in a range with potential buying above 22,600 levels and selling below 22,400 levels.
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Looking at the complex situation given the high valuation, major event ahead in terms of general elections, possibility of US recession and rate cut getting delayed fund managers are likely to focus on quality aspects of the stocks.