Airtel May Be Gearing Up For Next Rally: SEBI RA Prameela Balakkala Sees Strength Above ₹1,940

The stock is consolidating near its highs, but technical indicators and volume flows suggest institutional interest and potential upside, according to the analyst.

Bharti Airtel made news earlier this week when it surpassed India’s most valuable IT company, Tata Consultancy Services (TCS) to become the third most valued firm by market capitalization. It has since reversed the gains and stands at fourth position as of July 25. 

Bharti Airtel shares have rallied 20% in the last six months.

The stock will also be in focus on Friday, after its African subsidiary, Airtel Africa, reported strong earnings for the June quarter, led by margin expansion and growth in ARPUs. 

Airtel Africa Q1 revenues rose 7.4% to $1,415 million, while profits surged 95% to $156 million year-on-year (YoY). Margins have increased to 47.6% vs 45.7% a year ago. 

SEBI-registered analyst Prameela Balakkala believes that Bharti Airtel is making a compelling case for continued upside, with ₹1,940 acting as a key inflection point. 

On the technicals, she noted that after consolidating near its recent highs, the stock has decisively retested this zone, signaling strength backed by other indicators. 

Momentum indicators support this outlook. The Relative Strength Index (RSI) stands near 49, suggesting room for acceleration before overbought zones. The Moving Average Convergence Divergence (MACD) is flattening near its signal line, indicating a bullish crossover setup. And volume flows hint at institutional accumulation.

Balakkala has identified key levels to watch for Bharti Airtel. On the upside, resistance is seen at ₹1,980, followed by ₹2,020 and ₹2,080. On the downside, support is seen at ₹1,900, which is the swing base, and ₹1,875. A close below would invalidate the outlook.

She adds that the stock remains structurally strong above the ₹1,940 mark. A sustained action above this level could unlock fresh momentum, especially if broader markets remain firm.

In other news, the telecom company recently partnered with Perplexity to offer a complimentary 1-year Pro subscription to all its mobile and broadband users. 

Data on Stocktwits show that retail sentiment has been ‘bullish’ and rising since the end of June.

Bharti Airtel shares have risen 22% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.<