Cup & Handle retest done in monthly
Descending triangle in hourly
Retracement towards 200MA in 2hrs
Will take a good move from here.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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Cup and Handle pattern confirmation on daily chart and the downward move has started.
Target of 394 with 30% pullbacks in the coming weeks.
Also note that RSI has sharply fallen below 40 levels indicating a strong downward pressure.
BHARTI AIRTEL HAS BROKE ITS 3 MONTH SUPPORT LINE HAS RETESTED THE ZONES
IT MAY RESTEST MORE AND THEN FALL
RISK AND REWARDS AS MENTIONED IN THE CHART.
MOSTLY 70% CHANCES OF FALLING AS PER MY ANALYSIS BUT IN CASE IT REVERSES ACCEPT THE SL AND MOVE AHEAD. NSE:BHARTIARTL
as we can the support trendline level which is 515 if the price sucessfullly breakdown the trendline and give retest confirmation of breakdown around the level of 514 the we can see fall in that price for the tgt of 505-500 and als o h&s pattern are making.
1. A few weeks ago I shared my first post for Bharti Airtel where I shared a buying zone. You can see below how price moved around this zone taking support several times. First changing its sentiments to travel in five-wave structures to a corrective pattern (ABC). The journey in these weeks you can better understand the first fig. I...