thewayofknowing

Airtel Flag Formation [Explosive Breakout Due]

Long
NSE:BHARTIARTL   BHARTI AIRTEL LTD
Bharti Airtel has been in consolidation mode for weeks now, the big players are accumulating their long positions. Currently we're at the lower end of the flag channel ~560

Since we don't know how much longer it'll take for the upmove, we can use a BullPut Spread meantime to chow on Premium. A very strong support is present at 530

SELL AUG 550PE
BUY AUG 530PE

Max Profit : 16000
Max Loss : 20000

Major Brokerages have a BUY rating on Airtel with Short Term Targets ranging from 650-700. This is a great buy at current price levels for 2-3Yr Horizon

Comments

Good analysis.
+1 Reply
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