BHARTI AIRTEL: TIME TO BREAK OUT Long

BHARTI AIRTEL LTDNSE

Description

⋅ Sep 12, 2017 3:35 PM

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

⋅ Sep 13, 2017 11:04 AM

Stock remained sideways today.

Trade closed: stop reached

⋅ Sep 15, 2017 11:54 AM

Comments

ajit_bobs

⋅ Sep 13, 2017 5:55 AM

Should we exit long as its getting rejected again and again @407 -408?
Kindly suggest?

ff_shaikh

⋅ Sep 13, 2017 6:25 AM

@ajit_bobs, Would suggest you to hold at least for EOD.

ajit_bobs

⋅ Sep 13, 2017 7:13 AM

@ff_shaikh, My view is not for intraday... I can hold it up for weekly basis.

ff_shaikh

⋅ Sep 13, 2017 8:09 AM

@ajit_bobs, Hold ajit. Stock looks decent.

ajit_bobs

⋅ Sep 13, 2017 1:54 PM

@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?

ff_shaikh

⋅ Sep 13, 2017 4:50 PM

@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.