nalinakshi

Doji on daily chart 392 to 450 .

NSE:BHARTIARTL   BHARTI AIRTEL LTD
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
Comment: suppose if it doe-snot hold 392 then it will break up to 382. market condition are very important for all the price action
Comment: and then to 375.
Comment: by viewing option data Bharti will struggle to cross 420 price. so doji is signal not to go long. in this jseries.
Comment: momentum in nifty, bharti couldnot break the dji low and it has scrossed the doji high of 419 and trading at 422
Comment: if it crosses 427 easily you can expect to go the upper rangeof 450
Comment: 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
Bharti Airtel has formed the symmetrical triangle chart pattern on daily chart, price will remain in triangle till Apr first week then more likely to follow primary bearish trend and break-down to 380 level. Triangle top line on mar 01, mar 13, mar 16, mar 22, mar 23, bottom line on mar 07, mar 20.
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doji is a valid bear signal at the uptrend, after a downtrend it could mean reversal... but since general market is bearish I don't think we're going to see any bull in here.
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nalinakshi nileshgr
@nileshgr, price action swing from 391.5 was up to 429, and then it reversed for 5 days, on 5th day it touched the same price and made lower low of 392.7 and this time pull back was up to 4 days, that is 419, one more candle i is there to complete 5 day swing, but option data 420 call option premium is only 2.4, some how i feel they may eat the premium by letting it not to go beyond 420 on closing basis, around 421 to 426 price gets rejected you may sell off once it breaks the doji low , and finally the range hedge 591 is broken then we can expect the sell off aggravating to the levels of 575. for day trade these are the important levels to watch
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nalinakshi nileshgr
@nileshgr, Bharti is trading in range, It is trying to hold the bottom range, chances of breaking this range is high . I agree. i was just mentioning how to take intraday trade.
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