Technical analyst Abhishek Jain of Stocksidea.com has suggested investors to buy Bharti Airtel stock for short term.

Mr. Jain expects the stock to hit a target of Rs 960.

The bank is presently trading around Rs 775-800 level.

According to Mr. Jain, the stock may face some resistance around Rs 914 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 757.

The shares of the company on Friday (July 10) closed at Rs 782.30 on the Bombay Stock Exchange (BSE). The total volume of the shares traded was 320,789.  The stock hit an intraday high of Rs 805 and a low of Rs 765.40 on BSE.

Current EPS and P/E of the stock stood at 40.79 & 19.18 respectively. The share price has seen a 52-week high of Rs 990 and a low of Rs 484 on BSE.

Mr. Jain also said that the stock is looking strong technically. Indicators are also showing good up move for next few days. Traders can buy cash and future for short term.

Bharti Airtel has inked contracts with 23 global carriers of voice and data including Australia’s Telstra and UK-based Cable & Wireless that will make use of the Indian firm’s submarine cable network to route their India traffic.

Bharti Airtel on July 08, said that it can now divest its 36% equity stake in South Africa’s MTN Group (and its shareholders) through GDRs without MTN issuing a compulsory open offer.

The company’s move has been sanctioned by the Securities and Exchange Board of India (SEBI).

Bharti Airtel and RCom, on June 23, have joined the fray to get hold of the African business of Kuwait-based Zain Group.

A media report said that Bharti along with RCom have joined French company Vivendi that is still locked in talks with the Kuwait group for a  business worth $12 billion.