Bharti Airtel, MCX and Laurus Labs Show Bullish Chart Patterns: Chandan Taparia

Three Stocks Set Up for Gains as Key Index Levels Come Into Play

Technical analyst Chandan Taparia sees constructive chart signals in Bharti Airtel, MCX and Laurus Labs, while the broader market remains at important support and resistance levels.

Index signals point to a market still testing its range

Taparia’s stock calls arrive in a market where the benchmark indices have not yet established a clear breakout. The Nifty traded sideways to positive, with buying emerging on declines, and formed a small-bodied bullish candle. That indicates resilience around lower levels, but the analyst also noted that the upside remains capped.

For the Nifty, 22,700 is the level to hold for a move towards 22,900 and 23,000; support is placed at 22,600 and 22,500. Options positioning points to a broader 22,400–23,200 range and an immediate 22,500–23,000 band. Bank Nifty, meanwhile, faced selling after moving towards 54,650 and finished with a small bearish candle. A sustained move above 54,000 would be needed to target 54,500 and 54,750, while weakness below that level could bring 53,750 and 53,500 into view.

MCX’s recovery depends on clearing the ₹3,200 area

MCX is recommended at a cited market price of ₹3,186, with a stop-loss at ₹3,090 and a target of ₹3,350. The technical case rests on a bullish candle, a return to higher highs after a retest of the previous breakout zone near ₹3,000, and a move back above the 50-day exponential moving average. Taparia also pointed to notable volumes as evidence of improving price strength.

The analyst identifies ₹3,200 as an important threshold: holding above it could support another leg higher. That makes confirmation around this level central to the setup, rather than the target being a guaranteed outcome. A fall towards the stated stop-loss would weaken the trade thesis.

Laurus Labs and Bharti Airtel show different forms of strength

Laurus Labs is cited at ₹2,142, with a stop-loss of ₹2,080 and a target of ₹2,270. Its setup is based on a fresh all-time-high breakout, a pattern of higher highs and a bullish Marubozu candle, which Taparia interprets as strong buying interest. He also notes that broader buying interest across pharma could provide support, though the stock’s price action remains the immediate technical signal.

Bharti Airtel’s recommendation is at ₹1,978, with a stop-loss of ₹1,920 and a target of ₹2,100. The stock has broken out of a flag pattern on the daily chart and is holding above it. Higher highs and higher lows over the past four weeks, rising support and a positively placed RSI form the basis of the bullish view. For both stocks, maintaining the breakout structure matters: a reversal below the cited risk level would challenge the setup.

Key Highlights

• MCX: cited price ₹3,186; stop-loss ₹3,090; target ₹3,350.
• Laurus Labs: cited price ₹2,142; stop-loss ₹2,080; target ₹2,270.
• Bharti Airtel: cited price ₹1,978; stop-loss ₹1,920; target ₹2,100.
• Nifty support is placed at 22,600 and 22,500, with 22,700 identified as the level to hold for an advance.
• Bank Nifty needs to cross and hold above 54,000 to strengthen its near-term outlook.

Investor Note: These are technical trading views, not assurances of returns. Investors should consider their own risk tolerance, use the stated stop-loss levels as part of any trade plan and remember that index-level weakness could affect individual stock momentum.