Market Overview and Stock Performance
On 24 February 2026, Bharti Airtel’s stock closed with a 2.80% loss, touching an intraday low of ₹1,921.8, down 3.78% from the previous close. This decline was in line with the broader telecom services sector, which fell by 2.69%, and was more pronounced than the Sensex’s modest 0.82% drop. The weighted average price of traded shares skewed towards the lower end of the day’s range, indicating selling pressure throughout the session.
The stock’s technical positioning remains weak, trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This suggests a sustained bearish trend in the near to medium term. However, investor participation has been rising, with delivery volumes on 23 February reaching 24.01 lakh shares, an 8.95% increase over the five-day average, signalling that some investors are accumulating shares despite the downtrend.
Call Option Activity Highlights Bullish Sentiment
Contrary to the stock’s price weakness, the options market reveals a contrasting narrative. The most active call options for Bharti Airtel are those with a strike price of ₹2,000, expiring on 30 March 2026. A total of 5,047 contracts were traded, generating a turnover of approximately ₹69.47 crores (694.74 lakhs). Open interest at this strike stands at 3,149 contracts, indicating sustained interest and potential bullish bets from market participants.
The underlying stock price at ₹1,935 is currently below the ₹2,000 strike, suggesting that traders are positioning for a rebound or a rally above this level within the next five weeks. This could be driven by expectations of positive developments in Bharti Airtel’s operational performance or sectoral tailwinds, such as increased data consumption or regulatory clarity.
Mojo Score and Analyst Ratings
Bharti Airtel holds a Mojo Score of 68.0, categorised as a ‘Hold’ rating, a downgrade from its previous ‘Buy’ grade as of 29 December 2025. The downgrade reflects a more cautious stance amid recent price weakness and sector headwinds. The company’s market capitalisation remains robust at ₹10,98,881 crore, firmly placing it in the large-cap category with a market cap grade of 1, indicating high liquidity and institutional interest.
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Sectoral Context and Liquidity Considerations
The telecom services sector has faced headwinds recently, with regulatory uncertainties and competitive pricing pressures impacting margins. Bharti Airtel’s 1-day return of -2.86% closely mirrors the sector’s decline, underscoring the challenges faced by incumbents. Despite this, the stock’s liquidity remains strong, with a 5-day average traded value supporting trade sizes up to ₹17 crore comfortably, making it attractive for institutional investors and traders alike.
Rising delivery volumes suggest that long-term investors may be viewing current levels as an opportunity to build positions, even as short-term technicals remain weak. This dichotomy between price action and options market activity highlights the nuanced views held by different market participants.
Options Expiry Patterns and Investor Positioning
The expiry date of 30 March 2026 for the most active call options is significant, as it coincides with the end of the financial year for many companies, a period often associated with strategic announcements and earnings releases. The concentration of open interest at the ₹2,000 strike price indicates that investors are betting on a meaningful price recovery above this level within the next month.
Such positioning could be driven by expectations of improved earnings, potential tariff hikes, or positive regulatory developments. However, the current ‘Hold’ rating and the downgrade from ‘Buy’ suggest that analysts remain cautious, advising investors to weigh risks carefully.
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Investor Takeaways and Outlook
Bharti Airtel’s current market dynamics present a complex picture. The stock’s technical weakness and recent downgrade to a ‘Hold’ rating caution investors about near-term risks. However, the robust call option activity at the ₹2,000 strike price expiring in March 2026 signals that some market participants are positioning for a rebound, possibly anticipating positive catalysts.
Investors should monitor upcoming earnings announcements, regulatory developments, and sector trends closely. The telecom sector’s competitive landscape remains challenging, but Bharti Airtel’s scale and market leadership provide a foundation for potential recovery.
Given the mixed signals, a balanced approach is advisable. Investors with a higher risk appetite may consider selective exposure through options strategies, while more conservative investors might await clearer directional cues before increasing holdings.
Summary
In summary, Bharti Airtel Ltd’s stock is currently under pressure, trading below key moving averages and reflecting sectoral challenges. Yet, the options market reveals significant bullish interest, particularly in call options with a ₹2,000 strike expiring in late March 2026. This divergence highlights differing market views and underscores the importance of comprehensive analysis for informed investment decisions.
With a Mojo Score of 68.0 and a ‘Hold’ rating, the company remains a key large-cap telecom player, but investors should remain vigilant amid ongoing volatility and evolving sector dynamics.
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