Market Performance and Price Dynamics
On 27 February 2026, Bharti Airtel’s stock closed at ₹1,876, down 2.95% on the day, underperforming the Sensex which declined by 0.84%. The stock’s intraday low touched ₹1,873.1, reflecting persistent selling pressure. This decline aligns with the broader Telecommunication - Services sector, which fell by 2.6% on the same day. Notably, Bharti Airtel is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — indicating a bearish technical setup.
Investor participation has been rising, with delivery volumes reaching 60.1 lakh shares on 26 February, a 49.9% increase compared to the five-day average. This heightened activity suggests that while the stock price is under pressure, market participants are actively positioning themselves, possibly anticipating a near-term reversal or hedging existing exposures.
Call Option Activity: Strike Price and Expiry Insights
The most active call options for Bharti Airtel are concentrated at the ₹2,000 strike price, expiring on 30 March 2026. On this expiry, 5,559 contracts were traded, generating a turnover of approximately ₹324.52 lakhs. Open interest stands at 5,290 contracts, signalling sustained interest and potential accumulation at this strike level.
Given the current underlying stock price of ₹1,876, the ₹2,000 strike represents a 6.7% premium, indicating that option traders are positioning for a moderate upside over the next month. The substantial open interest and turnover at this strike suggest a bullish bias among option buyers, or alternatively, sellers writing calls to collect premium amid expectations of limited upside.
Mojo Score and Analyst Ratings
Bharti Airtel’s current Mojo Score stands at 58.0, with a Mojo Grade of Hold, downgraded from Buy on 29 December 2025. This reflects a tempered outlook based on fundamental and technical factors. The company’s market capitalisation remains robust at ₹10,86,964 crore, categorising it as a large-cap stock with significant institutional interest.
The downgrade from Buy to Hold suggests that while the company maintains solid fundamentals, near-term headwinds and valuation concerns have moderated analyst enthusiasm. Investors should weigh this cautious stance against the active call option positioning, which may imply divergent views within the market.
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Sectoral Context and Comparative Analysis
The Telecom - Services sector has been under pressure recently, with many companies facing challenges from regulatory changes, competitive pricing, and capital expenditure demands. Bharti Airtel’s performance is broadly in line with sector trends, as reflected by its 1-day return of -2.75% compared to the sector’s -2.83%.
Liquidity metrics indicate that Bharti Airtel remains a highly tradable stock, with a 2% threshold of the five-day average traded value supporting trade sizes up to ₹31.31 crore. This liquidity facilitates active options trading and allows institutional investors to execute sizeable positions without significant market impact.
Interpreting the Call Option Positioning
The concentration of call option activity at the ₹2,000 strike price with expiry in late March suggests that traders are anticipating a potential rebound or at least a stabilisation above current levels within the next month. The open interest of 5,290 contracts is sizeable, indicating that many market participants are either buying calls to gain leveraged exposure to an upside or writing calls to generate premium income amid expected sideways movement.
Given the stock’s current trading below all major moving averages, the call option activity could also represent hedging strategies by institutional holders seeking to protect against further downside while retaining upside potential. Alternatively, speculative traders may be positioning for a short squeeze or positive news catalysts ahead of the expiry.
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Investor Takeaways and Outlook
Investors should approach Bharti Airtel with a balanced view. The recent downgrade to Hold and the bearish technical indicators caution against aggressive long positions at current levels. However, the active call option interest at a strike price above the current market price suggests that some market participants remain optimistic about a near-term recovery or are employing sophisticated hedging strategies.
Given the stock’s large-cap status and significant market capitalisation, it remains a key bellwether for the Telecom - Services sector. Monitoring option open interest and turnover alongside price action will be critical for gauging shifts in market sentiment. Investors may also consider sectoral developments, regulatory updates, and quarterly earnings as catalysts that could influence the stock’s trajectory.
In summary, while Bharti Airtel faces near-term headwinds reflected in its price and rating downgrade, the robust call option activity highlights a nuanced market outlook with pockets of bullish positioning. Prudent investors should weigh these factors carefully and consider risk management strategies when engaging with this stock.
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