VigneshIyer
Long

A less risky bet for 09th july.

NSE:BHARTIARTL   BHARTI AIRTEL LTD
I am not the most comfortable drawing pattern in such a short time frame but with F&O stock one tends to see some movement between Support and Resistance . I feel a pattern has emerged here and the support is waiting to be broken but the resistance line target too large to be ignored.
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An ideal time to enter the trade tomorrow will be when some price action is done after opening of market and mark the support as stop loss and targets as high as resistance line goes. Wont be a vertical reach but cannot deny the possibility.
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Dont enter on gap downs and in such case let price action happen and support line be breached and closed in hourly charts to enter it with the support again being the SL.

Disclaimer : This idea is my way of viewing the charts and one might take position after self study of charts. This chart is just for educational purpose
Trade active: Respected the 50 SMA today in days chart and 20% of days volume came in the last 1/2 hour of the trade by giving amazing rally. Closed above 570 only to drop down to 568 in post market trade ,which should not be a concern
Trade active: A good day in a bearish stretch of market. The price in on course to target
Trade closed: target reached: The target was reached with some massive volume in last one hour and trades can be closed here inspite of red market.
Will share my view with a new chart on EOD.

Comments

Ist resistance after go long from 570, how much upside from charts
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VigneshIyer sonuvirdi75
@sonuvirdi75, In longer time frame of charts this is more like a wedge. I have just taken a small cup out of the jar and presented here.Here the upper side possible is 588. If that is achieved i will close this call and present the bigger picture in a seperate post. sl 50sma
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