AbhishekHSinghCMT
Long

Bharati- Missed The Double Bottom-Look for Triple Bottom

NSE:BHARTIARTL   BHARTI AIRTEL LTD
282 5 9
In the previous updates it was mentioned- gap of 312-314 is important. Going below the gap- bears will come into the picture. Likely, Bharati got a hit till what levels- can you imagine 283 & what is 283- it was close to earlier low @282.30 & short term buying opportunity- how can you miss that opportunity- double bottom .

What next?
If you missed double bottom- if at all market gives a chance close to 280-285 -holding above that could be another buying opportunity in the form of triple bottom- won't you be interested?

Comment: 23:15 Hrs 20th Nov2016

Likely close to a bottom in Nifty- may be small downside move, but likely all chances of pushing up to 8500-8600 -obviously it won't go straight -most likely in ABC pattern - making happy new year 2017 & get hammered most likely- well early to say- let us wait & see what the market wants.

If Nifty pushes up, then most likely Bharati gets done with it missing E-leg & start downside move.
Trade active: 10:32 Hrs 22nd Nov2016

Last Price@298

As suggested, If given a chance to buy above 280-283 which has swing low D-point at 282.30 holding that zone -we are still open for E-leg upside.

Market never gives chance again & again- an active trader should have picked when Bharati was turning from that zone forming a double bottom.

One will be lucky if you get triple bottom, but if goes below D-leg whole structure gets spoiled.
Trade active: 14:34 Hrs 28th Nov2016

Last Price@319

Likely the move has started - look the size of the candle today from 301 to 319- Amazing.
Trade active: 13:32 Hrs 30th Nov2016

Last Price@325

Beautiful look in monthly chart - with double bottom at 282-283 zone

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
Since nifty low broken is their a change in view for bharti airtel?
Reply
@uttamtrader15, No- every stock has its own dynamic- I just refer Index to give me comfort - if it is bull day -it will be easier for stock to travel up.
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Very acute eyes you have, Abhishek !
Thanks :)
Reply
@NikhilGhodke, I had this at the back of my mind, but very busy for the last few days, so could not put the update- Thanks to one of our colleagues who keep reminding me at regular intervals- Piyush
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ppiyush27 AbhishekHSinghCMT
@AbhishekHSinghCMT, thanks to your support :)
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