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
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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
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14:51 Hrs 3rd Oct2017
Last price@387.15
Day low@386.10
Half Part Completed to close by zone as expected.
Trade active
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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
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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.
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.
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
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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.
oh ok sir.. then my entry was wrong.. I went long at around 385 :(
RajKA
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Sir, kept stop loss 377 and it got triggered today.
WaveTalks
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@RajKA, Stop loss which trade side trade as we were short below 389 for 382 & then long.
WaveTalks
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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.
R-Begusarai
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Nothing will BhartiAirtel. Lala G ka dukan chala raha hai
WaveTalks
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@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.
R-Begusarai
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@AbhishekHSinghCMT, Sir, I told u earlier, "nothing is going to help BhartiAirtel."
WaveTalks
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@Religare-Begusarai, By that what do mean. Bharati is weak or strong
R-Begusarai
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@AbhishekHSinghCMT, extremely weak on daily&weekly chart.
WaveTalks
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@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.