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INDUSTOWER - Indus Towers News Story

₹256.5 -0.6  -0.2%

Last Trade - 11:29am

Sector
Telecoms
Size
Large Cap
Market Cap £6.77bn
Enterprise Value £8.25bn
Revenue £1.36bn
Position in Universe 63rd / 3108

BUZZ-India's Bharti Infratel gains most in nearly 4 mths; chart suggests end of downtrend

Wed 11th July, 2018 7:02am
** Telecom tower operator Bharti Infratel Ltd's  BHRI.NS 
shares gain as much as 4.55 pct, their biggest intraday gain
since March 20
    ** Stock breaks above a resistance at 305 rupees, the 14.6
pct retracement level of the downtrend from Oct. 17, 2017 high
to June 21, 2018 low https://reut.rs/2NBuXIZ
    ** RSI cuts above the 60 level for the first time since Oct.
2017, seen favorable for the stock 
    ** MACD also turns positive and is above its signal line
    ** Stock's wave pattern suggests it has completed a five
wave downtrend and is in wave 'A' of a three wave correction of
the downtrend
    ** With some resistance near 323.7 rupees, the 23.6 pct
retracement level, this corrective move may go up to 354 rupees,
the level that acted as resistance since the mid of Jan up to
April this year
    ** Stock down 25.6 pct in the last one year as of last
close, while the broader NSE Index  .NSEI  is up 12 pct in the
same period 

 (Reporting by Gaurav Dogra)
 ((gaurav.dogra@thomsonreuters.com;))
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