AbhishekHSinghCMT
Long

Bharti Airtel- Coiling Cracked for 40 points-Cypher in Channel ?

NSE:BHARTIARTL   BHARTI AIRTEL LTD
Bharti's connection was so puzzled between 407-398 where we witnessed the coiling effect & took advantage of almost every leg inside the coil - 3 times back to back 20 points between 398 to 407 with previous updates like morning star , hidden language & the game of patience - which is our long term update.
When the coil unwinded - sharp reaction to downside happened completing all targets -398-393-388 with a bonus gap down move to 375 giving us 40 points +

What Next ?
There is cypher in the channel & looking for target zone 405-407 -the upper end of the channel which is the point of control & likely the zone which can be retested.

How to execute?
Look for a pullback to 382-385 zone in next trading session - if you see prices holding in that zone then plan to enter with stops below 377 which shall be the important level- holding that level, we should see minimum push to 395-398 zone & next above 400 for 405-407 zone.

Stop Loss
377 should be the stop loss.

Long Term View - Game of Patience


Short Term Move -Morning Star - Talents & Patterns can't be hidden @398


Short Term Move - Prices Speak@398 - Hidden Language
Trade active: 10:45 Hrs 3rd Oct2017

Last price@390.85

Intraday - 389 is a good support & holding level since opening of the counter this morning. Going below 389 - we should have the pullback which is expected 382-385 Zone. Once we see support in that zone or price holding we shall plan to buy for targets of 395-398 & above 400 for 405-407.
Trade active: 14:51 Hrs 3rd Oct2017

Last price@387.15

Day low@386.10

Half Part Completed to close by zone as expected.

Trade active: 15:17 Hrs 3rd Oct2017

Last price@383.50

Lower edge of the pullback@382 suggested is also in action from day high@393-392

Next we have to wait & watch for the action tomorrow.

Wish You a happy trading week ahead.

Trade active: 11:25 Hrs 4th Oct2017

Last Price@379.50

Bharti got hammered this morning as well but as stated earlier holding above the key level@377 - we will plan to take long positions
It went close by @378.50 which was hardly 1 - 2 points away

Taking risk of losing below 377 we hope for initial bounce to 387-388 zone & above 393 for next higher target of 400 & 407-408 else we book complete at 387-388 & wait outside.

Going below 377 - All positions should be closed.

Trade active: 12:25 Hrs 4th Oct2017

Last Price@377.85

Day Low@376.25

We lost 2 points in day trade below 377 & shall look at this counter only above 380-381 zone which is psychological zone. Sustaining above that zone is the trigger point for us where bulls shall be interested next.
Trade active: 14:20 Hrs 4th Oct2017

Last price@377.90

Flirting close to 376-377 zone is very risky if Nifty falls below 9900 mark - there could be more pressure for Bharti as well downside for 373- 365- 355.

Keep an eye on Nifty.
Trade closed manually: 10:37 Hrs 5th Oct2017

Last Price@374.50

Day Low@373.15

1st Target downside@373 was hit by close margin. Closing the update. Shall not monitor any further.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
oh ok sir.. then my entry was wrong.. I went long at around 385 :(
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Sir, kept stop loss 377 and it got triggered today.
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@RajKA, Stop loss which trade side trade as we were short below 389 for 382 & then long.
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@RajKA, I keep updating that we are moving down below 389 - was looking for a pull back. You have to read all updates as well in between.
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Nothing will BhartiAirtel. Lala G ka dukan chala raha hai
Reply
AbhishekHSinghCMT Religare-Begusarai
@Religare-Begusarai, I truly don't agree ( all this is part & parcel of the markets) as I said earlier I am looking big down fall in Bharti as per long term view mentioned above " Game of patience" update, which was visualised one year ago at 285-290 levels that we see Bharti touching close to 430-440 zone which it did at 438 highs & now it has started falling back so looking for few days of bounce as re- entry for downside move which could travel to 325 & below 320 for 285 & below 285 - real show will start downside.
Reply
Religare-Begusarai AbhishekHSinghCMT
@AbhishekHSinghCMT, Sir, I told u earlier, "nothing is going to help BhartiAirtel."
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AbhishekHSinghCMT Religare-Begusarai
@Religare-Begusarai, By that what do mean. Bharati is weak or strong
Reply
Religare-Begusarai AbhishekHSinghCMT
@AbhishekHSinghCMT, extremely weak on daily&weekly chart.
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AbhishekHSinghCMT Religare-Begusarai
@Religare-Begusarai, My dear friend, I guess you haven't read my long term view " game of patience-sold at 430-440" update. Financial Instruments never move in straight line - 22 Hours back I updated you above.
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