Bharti Airtel, ITC, Coal India and Others: Trading Strategies for April 30

Indian Equity Market Sees Mixed Trading Day

The Indian equity market closed the day's high on April 29, with the Nifty 50 rising 0.76 percent. However, market breadth was slightly weak, with 1,547 shares under pressure compared to 1,406 advancing shares on the NSE. This mixed trading day highlights the need for follow-up buying to sustain the upward journey, or else consolidation with range-bound trading cannot be ruled out.

Technical Analysis Recommendations

Here are some short-term trading ideas to consider:

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Bharti Airtel

Bharti Airtel has delivered a downward consolidation breakout on the daily chart, signaling a potential trend resumption. The stock is sustaining above its 20-day SMA, supported by a rising RSI in a bullish crossover, indicating strengthening momentum. On the weekly chart, the stock has taken support near the 23.6 percent Fibonacci retracement during its corrective phase, forming a short base. This overall structure suggests that the correction may be complete, and the primary uptrend is likely to resume with renewed buying interest.

ITC

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ITC has given a consolidation breakout on the daily timeframe, suggesting a rise in optimism around the stock. Besides, the price has reclaimed the 50 EMA after several days, confirming an improving bullish trend. The trend may remain strong over the short to medium term, potentially taking the price towards Rs 343.

L&T Finance

L&T Finance is showing a hidden bearish divergence on the daily chart, indicating a continuation of the prevailing downtrend. Price action has turned weak as the stock closed below its crucial swing low, confirming selling pressure at lower levels. Additionally, repeated rejection from the 100 DMA highlights strong resistance overhead, restricting any meaningful upside.

Coal India

Coal India has given a downward-sloping trendline breakout on the daily chart. The move is backed by a healthy surge in volumes, adding credibility to the breakout. RSI is trending upward and has crossed 60, signaling strengthening bullish momentum. Additionally, rising MACD histogram bars reinforce the positive bias.

Aditya Birla Capital

Aditya Birla Capital has been consolidating within the Rs 354–335 range since mid-April. Despite this sideways phase, the stock continues to trade above its key short- and long-term moving averages, reflecting underlying strength. The ADX indicator shows DI+ positioned above DI-, indicating buyers remain in control.

Elgi Equipments

Elgi Equipments has formed a bullish continuation chart pattern resembling a cup-and-handle breakout on the daily chart, suggesting rising optimism around the stock. Besides, it has been trading in a higher high–higher low formation and is also sustaining above the 50 DMA, confirming an improving trend.

Servotech Renewable Power System

Servotech has confirmed a horizontal line breakout on the daily chart, a classic reversal formation that signals the end of a corrective phase and the onset of renewed bullish momentum. The stock is currently trading above both its 20-day and 50-day EMAs, reinforcing a positive price structure across the near to medium term.

India Glycols

India Glycols has broken out of a horizontal line pattern on the daily chart, which could indicate a shift from a lower high–lower low structure to a higher high–higher low formation. It is trading just above the 200-day EMA, and staying above this level will further strengthen the bullish outlook.