Bharti Airtel CMP 1724
Elliott- the stock has formed an expanding triangle in its B wave which is a rally in a three wave correction ABC. The C wave will have 5 waves and will be a fast fall.
Fibs- In my view the Fib confluence at 1360 is the minimum correction that this stock will witness. This is a good 20% from the current levels.
RSI - the stock is on the highs where as the oscillator cannot go past the bear zone of 60-65 is negative.
Conclusion - With a weight of 4.25%, Bharti has the 5th highest weightage in Nifty. Hence yet another heavy weight showing it is about to give a deep correction.
Elliott- the stock has formed an expanding triangle in its B wave which is a rally in a three wave correction ABC. The C wave will have 5 waves and will be a fast fall.
Fibs- In my view the Fib confluence at 1360 is the minimum correction that this stock will witness. This is a good 20% from the current levels.
RSI - the stock is on the highs where as the oscillator cannot go past the bear zone of 60-65 is negative.
Conclusion - With a weight of 4.25%, Bharti has the 5th highest weightage in Nifty. Hence yet another heavy weight showing it is about to give a deep correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.