Bharti Airtel is breaking it's range (~340-380) slightly due to speculative/news based buying which doesn't seem sustainable. Short orders can be placed if it dips below 375 for targets of 340-335. Also, all the news channels seem very bullish on it which according to my experience means there's a high probability it will fall.
Comment:
Slowly but surely price has moved back into the box after seeing a rejection at 397 levels twice. Targets of 340-335 will become active once we see a full candle closing inside the box.
Trade closed: target reached:
Stock made a low of 325 and hit both our targets easily as expected. Moral: Do not buy into speculation!