Bharti Airtel long opportunity

BHARTIARTL

Stock -> Bharti Airtel

TimeFrame-> Weekly

Hello all!
Bharti Airtel has been moving in a channel since September 2019. It has been consolidating since August 2021 and is now back again at its lower trendline, thus making it a good opportunity to go long!

There are multiple other factors that strengthen my conviction:

- Along with the lower channel trendline, the stock is trading near its strong support zone.
-It has support from its 50-week EMA.
-The bounceback has come from the golden Fibonacci zone (between 50%-61.8%)

The risk to Reward ratio is also decent.

*NOT A CALL*

#nifty #bhartiairtel #technicalanalysis #swingtrading #fibonacciretracement #ema