Telecom tower operator Bharti Infratel's shares gained as much as 3.61 per cent to Rs 281.4, highest since September 24.Stock broke above resistance at Rs 277.35, 14.6 per cent Fibonacci retracement level of downtrend from October 17, 2017 high to October 4, 2018 low.Breakout suggests stock may move up to next resistance at Rs 299, 23.6 per cent retracement level, though some resistance is also expected at 200-day exponential moving average (EMA).The stock's 20-day EMA cut above 50-day EMA, signalling bullishness.Trend Intensity (TI) indicator rose to 15, suggesting a new uptrend has started for stock.
MACD is positive and above its signal line.Stock was up 6.1 per cent in 30 days to Thursday's close, while broader NSE Index fell 1.94 per cent.