BHARTIARTL | Can we call it as Cup & Handle formation?
CMP : 528 SL : 495 Target : 600
I'm going long based on,
1) RSI positive divergence with price consolidation last 11 trading days 2) My visualisation of Cup & Handle ( Although it is not formed yet) 3) Simple 1:3+ risk reward setup
I don't think it's good for buy... If you want to buy it for long so wait for 480 levels, if you see any Reversal pattern near 480 than you can buy for long.
srikartiram
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@Umesh58, True even i was expecting 480, but this sounded like a Cup & Handle reversal. Accepted the stoploss and exited !
@srikartiram, sir u should wait and plan to add more quantity at 480 and 440 IMO
srikartiram
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@sagarchaudhary025, Yes sir thats the plan. I just negated this setup alone now. I'm holding AIRTEL from 385/- just averaged some more here and exited that new qty :)