Volumes are low so not a strong bearish candle.
Price still above 8 EMA.
Just cooling of from reaching the peak.
Strong Support 525.
Should wait for more indications before selling off.
This stock is forming this triangle and if it takes 530 as support. 540 will be the target from there. If it crosses 540, we will get a fresh breakout there too!
Bearish gartley leg one completed. CMP 512 , gartley Tgt1 - 478-481 which can be considered as a pullback to Fibo level of 31.8%.
After this pullback, momentum move expected till 695 .
Take trades as per the levels mentioned in the chart.
Trade cautiously as per your risk capacity. I have every right to be wrong.
Key Levels for BHARTI AIRTEL :
UPPER BREAKOUT~504.25
FIRST TARGET~508.40
INTERIM RESISTANCE~513
FINAL RESISTANCE~517.80
***********************************
LOWER BREAKOUT~495.35
FIRST TARGET~490.25
INTERIM SUPPORT~486.65
FINAL SUPPORT~479.35
Please trade with caution and consult your financial adviser before trading.
The current pattern is flag patte rn.
As per weekly chart, Reversal is not far.
Suppose to already started reversal, the price will close below 518
Long eye,
As per the weekly chart, reversal is 531 nearb y.
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...
NSE:BHARTIARTL Long at 336.30 with SL 334.95 and TP 338.95
Note:
Consult your registered adviser before taking any decision.
Always risk 1% of account size per trade, adjust the position size accordingly.
Airtel has dropped 6.5% already, expecting a rebound at zone set at 344.5 -342.1.
Waiting for a long on Bharti Airtel @ 344.50 with SL 3 points below and TP 6 points above. Risking 0.5% of account size
![BHARTIARTL: BHARTIARTL Long Setup [Intraday]](https://s3.tradingview.com/j/jIIkMIBg_mid.png "BHARTIARTL Long Setup [Intraday]")
