Telecom sector's lone warrior is at all time high, first time since 2007. if government provides some relief to the sector this will get benefited. Keep in your watch list.
Bharti Airtel Buy at current level for a Short term target of 454, 481, 490 and 503. Move might continue till 514
Stop loss exit at 415
Duration short term.
The stock has been trading in a range from past 10 years or so , every time it tests lower range it bounce back toward the upper end of the range , and every time it tests the upper range it pulls back towards the lower end of the range.
Similar price action has also been seen near the range support and resistance.
1.) Stock bounces every time it tests .786 Fib support of all-time low and high
2.) Holding this support since Oct 2008, for 10 long years.
3.) Stock always bounces when RSI came near, at or went below 40.
4.] Similar Price Action near Support Range of 240-260
Airtel today, showed movement aroud 30 % in the stock price. The heavy OI change was reason backed by this rush. Also Airtel, had seen around 2000 OI change on 14th November as well.
Please check out the Participant wise OI involvement on the NSE Website for 15th November, 2019. The long positions by retail clients and short by FII, DII and PRO's, could be the...
