IIFL is bullish on Bharti Airtel and has recommended buy rating on the stock with a target of Rs 352 in its January 12, 2011 research report.

“Bharti Airtel Ltd on the daily chart has been consolidation in a ‘symmetrical triangle’ and, stock is trading at support of the triangle. As ‘triangles’ are considered to be continuation pattern, existing uptrend in the medium term chart is likely to continue from the support levels. Adding to it, stock is back to is 50 DMA which is considered as strong support and on weekly chart RSI has been still holding positive crossover. Adding to it despite sharp volatility in the broader markets, stock has been holding well above the support levels of Rs 337 with higher relative strength. We advise buying stock in the range of Rs 335-336 with stop loss of Rs 328 for target of Rs 352 (Duration 7 days),” says IIFL research report.