Bharti continues to be a good trade on the long side. The markets are a tad soft after a big run from 16800 levels - and a bit of a soft period for the Nifty in the next couple weeks can be expected. So would stay light on the long side as of now - very selective. However Bharti is one stock would stay very productive on because
Shake out on 14th of June - went down to 818, clearing weak longs
Defied the general market weakness last one week or so and continues to consolidate
Fundamentals & analyst estimates - still positive
Need a rapid push above 850 to clear the way to 900
Again if it cant clear 850 on big volume in the next few days, take your profits and get out at 845 or so. (PS - similar thing happened in Britannia a few weeks back)
Comment
⋅
Moving up now. General market is lacklustre - and that the only risk here. Dont take profits early - wait for this to show 890 plus and then start taking it off. Long term holders - can wait for 1000 by year end as the monthly setup is pretty good too
Comment
⋅
880 - now at life time high. Take 50% off and ride the rest up
Comment
⋅
882 - stay strong and dont cut & run early. Wait for the stock to take u out at a trailing stop - this cud take out 900 on momentum
Trade closed: target reached
⋅
Exhausted move - may come back to 860. So will take profits and wait on the sidelines for re test of the 21 ema to re enter. A nice little trade this
@chinna6674 yes I think so. it's consolidated at 860 which was the 21 ema. maybe not Monday. but hope to see 900 plus next week
chinna6674
⋅
@lazy_kunal, Yes sir
chinna6674
⋅
Tomorrow 910?? Possible
kunal_finner
⋅
@chinna6674 I don't think so. 3 percent gap up on no news very unlikely. it will go up but probably slowly
chinna6674
⋅
Tomorrow view sir?
kunal_finner
⋅
@chinna6674, Hard to take day to day call given that the stock may react more to how the market moves. However if u notice it came back to 860 and then took support there. That means that there are buyers. I dont expect it to move too much before results. Although if it dips below 870 / 865 i think buyers will come in. So wait and watch as of now
kunal_finner
⋅
Exhausted move - may come back to 860. So will take profits and wait on the sidelines for re test of the 21 ema to re enter. A nice little trade this
kunal_finner
⋅
882 - stay strong and dont cut & run early. Wait for the stock to take u out at a trailing stop - this cud take out 900 on momentum
kunal_finner
⋅
880 - now at life time high. Take 50% off and ride the rest up