Keep an eye on BHARTIARTL forming an official book like triangular pattern this might breakout soon in upcoming days. . Calculate your RR Ratio and then trade. Stoploss should be below the previous immediate swing.
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Still waiting. Airtel is still consolidating in thin range BB conformation.
@Sohan_Prajapati, @Umang_Sharma But it necessarily doesn't have to go down if Nifty goes down, right? It's in a strong support & weekly chart looks like it is respecting the support levels. Telecoms can perform well & while Nifty can go down, right? Especially the rally was mainly contributed by IT, Banks and Pharma. And it seems to me there are some stocks which performs well in the falling market, ITC is the best example. I think Airtel also has that nature.
I'm new to this. Just sharing my mind. I could sound stupid :)
Umang_Sharma
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@roshuniv, Agree this stock is in an Uptrend for a higher time frame view as it is on the strong support levels in daily and weekly time frame (I've mentioned that in the comments down below), and Yes!! you are right it might perform well even when all others aren't performing that good given that stock has the potential to hold its levels (like Reliance did last month) but it is highly unlikely to happen at this point in time. There are higher chances if nifty falls for a retracement this stock is going to give a fake breakdown. Another possibility is this support level might not break at all and airtel might just start climbing after holding these levels.
I don't understand what are you proposing with "ITC performing well".
New in investing and a learner -what is the Risk stop loss one should have? "previous immediate swing" please elaborate?
Umang_Sharma
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@DurgaDuttJ Stop loss must be according to your RR ratio and the best buying levels are above triangle pattern after retest. Pardon my response but i dont give exact levels.