Airtel continues to remain below its 4 month price support line and price channel for the 3rd consecutive day. Today, it has also breached the Fibonacci level of Rs. 334.40 as it made an intraday low of Rs. 336.35.

But the stock has risen since that low and created a bullish engulfing candlestick pattern.  The stock is showing undersold levels as well.  

So it might rise again tomorrow and try to get back into the price channel.  Let's wait and watch.  If the stock fails to make it back into the price channel inspite of efforts, its time to prepare to book profits.

Chart sources: in.reuters.com, www.moneycontrol.com