BHARTIAIRTEL has made descending triangle,upon breakdown will leads to further down move.
Entry = 354
tgt1 = 352
tgt2 = 350
tgt3 = 348
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Bharti Airtel has been on a good run recently. Technically, it's trading along a rising channel. The current price i.e. closing price on 4th Jul of around 362 has run the stock in to a strong resistance area spread between 360 and 365. For the recent bull trend to sustain, a break in closing basis above that resistance area is critical.
From technical stand...
There's a H&S on the 1hr time frame not sure it will work or not bcoz there's a bearish pin bar closed at the weekly time frame. price halt at 50% retracement so the chances is either side fifty-50 but, the move will be strong enough to archieve any of the target price follows in a short period of time. also another point is that cci making a bearish divergene on...
Bhartiairtl is making Rising wedge and breaking the 353 price point will leads to breakdown of rising wedge,which will further proceed downwards.
Short below 353 after sustaining for 15 minutes
FIRST TARGET - 348
After that keep trailing your SL
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TRADE NIVESH Bharti Airtel had announced rights issue to raise up to Rs 25,000 crore through issuance of fully paid up shares and an additional Rs 7,000 crore via foreign currency perpetual bond issue. The rights issue will be raised in the ratio of 19:67 (i.e., 19 shares for every 67 shares held) at a price of Rs 220 per share.
jump at 335
Bharti has come out of multi week consolidation range of 280-340.It has also close above 23.6% retracement of the entire fall from 600-280 level. Stock is looking good for 385-400 level which is 38.2% and earlier resistance of upmove. Positive news from industry that pricing is likely to stabilise in near future has given momentum to the stock. Trader can buy...
Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.