Tata Steel, Airtel, L&T :Trading strategies for these buzzing blue-chip stocks

Domestic equity indices snapped a two-day winning run on Tuesday, thanks to profit booking in select pockets. The BSE Sensex dropped 237.72 points, or 0.37 per cent, to end at 63,874.93. NSE's Nifty declined 61.30 points, or 0.32 per cent to end the session at 19,079.60. Some blue-chips stocks such as Bharti Airtel Ltd, Larsen & Toubro Ltd and Tata Steel Ltd are likely to remain under the spotlight today. Here is what Pravesh Gour, Senior Technical Analyst at Swastika Investmart has to say on these stocks ahead of Wednesday trading session:Bharti Airtel | Buy | Target Price: Rs 960 | Stop Loss: Rs 880 Bharti Airtel is forming a channel formation on the weekly chart.  On the daily chart, it witnessed a breakout of a long consolidation with strong volume above Rs 900.  The scrip has seen a profit booking at higher level. It retested 50-DMA around Rs 900 and started a new leg of rally towards Rs 940, with 9- and 20-DMA, acting as resistance levels. A trader can take a position at current levels of Rs 914 with a stop-loss of Rs 880 for the target of Rs 960.Larsen & Toubro | Hold | Target Price: Rs 3,000 | Stop Loss: Rs 2,700 L&T has been forming a rounding top formation in the daily time frame. It has been creating a base at 50-DMA. The stock has bounced back from the demand zone at around Rs 2,850 level. It is also in progress of forming the right shoulder formation of the Head and Shoulder pattern on the daily chart. On the higher side, the Rs 3,000 level is acting as a resistance level; above this, one can expect a big move till Rs 3,200 in the shorter time frame. On the downside, the Rs 2,850 level is the demand zone for any correction. Below this, the Rs 2,700 level will be the next support level.Tata Steel | Range-bound | Support: Rs 115 | Resistance: Rs 125 Tata Steel's stock trend has been consistently in bearish mode, characterised by a sequence of declining peaks and troughs. Its recent drop below the 100-day Simple Moving Average (SMA) has solidified this downward momentum. Looking ahead, it is anticipated to find substantial support around the Rs 115 level, aligning with the 200-day SMA. Conversely, there are notable barriers on the upward trajectory. The 20-day and 50-day SMAs are presently situated at Rs 125, creating a formidable resistance area.