Bhartiairtel
Bharti Airtel 570 is a key resistance to watch for long termBharti seems to be finally breaking out of the 500-520 range. The next resistance zone is 545-570.
570 will be very interesting to watch since if Bharti starts to fall from there, it might create a long term head and shoulders pattern and fall back below 400 easily.
With the payments bank news around the corner, it can go both ways. I'm staying long, for now, did a Butterfly by buying 530CE, selling 2 550PE, and buying 600CE as a hedge. This trade has no downside risk with breakeven at 570 and max profit at 550 (all for January expiry). The trade can be managed easily if it goes against us.
BHARTIARTL - Strong BUY for more than 20% potential returnNSE:BHARTIARTL has gotten BUY rating from 6 various brokers for 600+ target, which is 20% potential return.
The stock has shown a breakout with higher volumes today, which can be a good entry point.
MACD is bullish.
EMA20 is greater than EMA50 indicating in bullish trend.
The RR Ratio is also greater than 4, which is very favorable for the trade.
BHARTI AIRTEL -Ascending broadening wedge pattern at monthly TF BHARTI AIRTEL -Ascending broadening wedge pattern formation at monthly TF
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.