ff_shaikh
Long

BHARTI AIRTEL: TIME TO BREAK OUT

NSE:BHARTIARTL   BHARTI AIRTEL LTD
Stock is forming a base at around a previous peak. It has also retraced to Fibonacci levels and also taking support of a rising trend line .

Go long on the stock, keeping SL at 394, for a price target of 424 and eventually 450.

Trade active: Stock remained sideways today.
Trade closed: stop reached
Should we exit long as its getting rejected again and again @407 -408?
Kindly suggest?
Reply
ff_shaikh ajit_bobs
@ajit_bobs, Would suggest you to hold at least for EOD.
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ajit_bobs ff_shaikh
@ff_shaikh, My view is not for intraday... I can hold it up for weekly basis.
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ff_shaikh ajit_bobs
@ajit_bobs, Hold ajit. Stock looks decent.
Reply
ajit_bobs ff_shaikh
@ff_shaikh, Yeap holdiing this point right now but my concern is price are not abl to stay above 407 for 1 min even. Its getting clear rejection since 5th sep. And 395 to 398 acting as a support but there also its not spending much time.. Its kind of playing ping pong from 395 to 408 range..

So it is not decided which way it will move.. I dont see charts I have always follow support and resistance.... but this play of ping pog getting me confused... either way of up or down until its closed above 407 or below 395. Any ways I m at long side @404 in F&O? What is your chart says on this kind of situation?
Reply
ff_shaikh ajit_bobs
@ajit_bobs, True. I was expecting a breakout today, but stock remained sideways negative. 407 is becoming a big hurdle for the same. And yesterday's low of 398 is a big support. Let's see at what price the stock opens tomorrow. Positive opening and we could see 407 taken out in tomorrow's session.
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