bharti airtel how to trade/ since 7 weeks it is trading in a range between 450 to 392. On march 7th and this month 20th it made low of 392. March 7t swing low ended at 429 and again it corrected to 392. on 20th it started the move from same 392 yesterday made an high of 418 . closed at the open level. so monday How to take trade?
Monday will be interesting price action for bhrti. Now it has made double bottom at 392 l and trying to go up, suppose if it trades above and breaks above 418.9 , then chances of going upto 425 and 429 is there. suppose if it breaks below 405 double bottom becomes invalid. Hrly chart it has taken support around 406. so keeping stoploss of 406 one cans take position if it breaks this level chances of going up is remote. doji will give good signal to trade accordingly
Monday will be interesting price action for bhrti. Now it has made double bottom at 392 l and trying to go up, suppose if it trades above and breaks above 418.9 , then chances of going upto 425 and 429 is there. suppose if it breaks below 405 double bottom becomes invalid. Hrly chart it has taken support around 406. so keeping stoploss of 406 one cans take position if it breaks this level chances of going up is remote. doji will give good signal to trade accordingly
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suppose if it doe-snot hold 392 then it will break up to 382. market condition are very important for all the price action
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and then to 375.
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by viewing option data Bharti will struggle to cross 420 price. so doji is signal not to go long. in this jseries.
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momentum in nifty, bharti couldnot break the dji low and it has scrossed the doji high of 419 and trading at 422
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if it crosses 427 easily you can expect to go the upper rangeof 450
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failed to cross 427 and it is back to the lower end of the range. if it breaks this range it will fall upto 375 392 is alert area