AbhishekHSinghCMT
Education

Bharti Airtel - Falling from 438 to 395 - Game of patience

NSE:BHARTIARTL   BHARTI AIRTEL LTD
Someone rightly said - " Why patience isn’t just a virtue in investing, it’s a necessity for Trading" if you want to survive in the markets for long term.

If I Can’t Have You Right Now, I Will Wait, Dear
Few weeks back it made a high@431 - had started falling but it was not a convincing fall to 403 & pushed upside slightly above 430 levels making new high@438.

So, I am asking a question to myself is this the fall which we were waiting for a long time almost like a year as mentioned below in previous update & we have started the same by falling from 438 highs to 395 low in the last two weeks combined.

Update on 1st Jan2017
Trade active: 09:27 Hrs 8th Sep2017

Last Price@398

As suggested below in the comment section to Mr. Asif - Next weakness can continue only below 395 else we look for a bounce which gets confirmed if it starts moving above 400 & holds above 400.
Trade active: 11:48 Hrs 8th Sep2017

Last Price@401.70

Bounces as expected from lower levels of 398
Trade active: 12:31 Hrs 8th Sep2017

Last Price@404.70

405 is another psychological level & we shall book partial profits in the bounce buying at lower levels of 398.
Trade active: 12:55 Hrs 8th Sep2017

Last Price@402.40

Falls from top close to 405.
Trade active: 14:35 Hrs 8th Sep2017

Last Price@402

See Bharti turning from exactly 401 - just recent low - trading with stops below 400 we can look for a bounce above 405 -407 zone
These levels are to be traded as they have less risk -just losing 1-2 points & gain is 4-6 points upside.
Trade active: 07:30 Hrs 11th Sep2017

Last Price@403.50

Above 401 we are looking for 405-407 as the next target zone.
Trade active: 09:26 Hrs 11th Sep2017

Last price@405.20

Got a chance after gap up opening in the zone 403-404 - we are looking for 405-407 likely upper touches for the day soon.
Trade active: 09:33 Hrs 11th Sep2017

Last Price@405

Rejection Zone 407.50-408.50 - Once Bharti gets next chance to touch 407.50- 408.50 & unable to cross -then book profits & take rest - downside if we get a chance 395-400 zone then we look to buy again for targets 410-415 later.
Comment: 11th Sep2017

Picture at 09:35 Hrs
snapshot
Trade active: 12:25 Hrs 11th Sep2017

Last price@399

We will avoid buying anymore as it seems that larger degree correction has started downside.
Trade active: 12:27 Hrs 11th Sep2017

Last Price@399

So any bounce we will exit buy positions & look to sell later. Wait for the bounce upside
Comment: 12:35 Hrs 11th Sep2017

Last price@400

Bounce from 395-400 zone & going above 402.50 we will expect 405-408-410 Next.
Comment: 14:54 Hrs 11th Sep2017

Last Price@403

Here we go from 398 again upside as suggested in morning above.
Trade active: 15:07 Hrs 11th Sep2017

Last Price@403

Now, trader has to trail the stop loss to cost price@399 because going below 398 it will surely fall.
Trade active: 19:11 Hrs 4th Oct2017

Last Price@377

We are close to 375 mark where it bounced sharply last time - if we go below 370-375 zone - more weakness can set in for 365-355 target next.
Need to keep watch on Nifty where selling pressure can be seen below 9900 mark -if sustains.
snapshot
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Kindly remember ur Reliance Labelling .
Reply
More weakness...or can we buy it
Reply
@asif.ayyub, we might have a bounce not confirmed yet but going above 400 -yes then it will do aall choppy moves again which can last for 2-3 months & later fall again.
Reply
asif.ayyub AbhishekHSinghCMT
@AbhishekHSinghCMT, thanks a lot for your great insights...carry on the great work that you do!! May the Almighty always bless you!!!
Reply
@asif.ayyub, Good Morning & Thanks.
Reply
rajsoneji AbhishekHSinghCMT
@AbhishekHSinghCMT, I want to ask you one thing, why it's 400 & not anything else, Is there any strong support @ 400 or any fibonacci retrancement level ? Please elaborate.
Reply
@rajsoneji, My dear friend, You should look my chart very carefully - all important levels mentioned on chart. Your answer lies in the history. Either ways , 400 is a psychological level as well. Let me know if you are able to find the answer or not.
Reply
rajsoneji AbhishekHSinghCMT
@AbhishekHSinghCMT, Okay, got it.
Reply
@rajsoneji, Cheers!
Reply
@rajsoneji, See Bharti Turning Upside from 401 exact just now. so these levels are to be traded as they have less risk because going below 400 - it can slip down else bounces back above 405 levels.
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