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BHARTIARTL // levels // 4 hour "Welcome to SkyTradingZone " Hello Everyone 👋 Here are the current support and resistance levels for Bharti Airtel (BHARTIARTL) on a 4-hour timeframe: Support Levels Previous Low: 444.00 Fibonacci 38.2% Retracement: 446.00 200 SMA (Simple Moving Average): 448.00 Fibonacci 23.6% Retracement: 450.00 Short-term Support: 452.00 Resistance Levels Fibonacci 61.8% Retracement: 454.00 Previous High: 456.00 Fibonacci 78.6% Retracement: 458.00 Medium-term Resistance: 460.00 Long-term Resistance: 462.00 Notes These levels are subject to change as market conditions evolve. These levels are based on historical data and may not be a guarantee of future price action. These levels are not the only levels that can be used; traders can use other indicators, such as moving averages or trend lines, to identify potential support and resistance levels. Current Market Conditions Bharti Airtel is currently trading in a bearish trend, with a series of lower highs and lower lows. The stock is approaching the short-term resistance level of 452.00. If the stock breaks below this level, it could potentially move towards the medium-term resistance level of 460.00. Trading Strategies Sell at resistance: If the stock breaks above the short-term resistance level of 454.00, it could be a good opportunity to sell. Buy at support: If the stock breaks below the short-term support level of 452.00, it could be a good opportunity to buy. Trend following: Follow the trend by selling or buying based on whether the stock is moving downwards or upwards. Mean reversion: Look for opportunities to buy when the stock is oversold and sell when it is overbought.
NSE:BHARTIARTLLong
by SkyTradingZone
5th Oct ’23 - Gap-up takes out my stoploss Nifty PostmortemNifty Expiry Analysis Between the last expiry and today, Nifty has only lost 6pts. Quite a rarity to see a flat close especially when we had some strong preceding moves. The recovery today gave Nifty a strong character change as well. It was looking a lot negative yesterday and further fall was looking obvious. Nifty Daily Analysis Recap from yesterday: “The next support level of 19310 fell short by just 0.1%. If the current momentum holds — then it should be tested and taken out by tomorrow.”. I must say - it did not go as per this plan. We not only did not break the support - but we went back and broke the resistance. Today’s move took out my stop loss and also messed around with the expiry trade. The gap-up opening of 0.5% ~ 97pts was a true show of strength. Although I am not quite sure what changed fundamentally overnight. We did not close the gap today even though we had a slight fall towards 19486 levels. Then the 2nd leg of the boost came at 10.45 which took Nifty up by 89pts ~ 0.46%. From there we almost went sideways and closed with no further drama. On the 1hr TF we have 3 distinct formations. A strong red candle on 3rd, a gap-down hammer on 4th, and then a doji today. If we had a full green body candle today - it would have been a morning star formation. A morning star formation is usually a strong bullish signal that forms at the end of a bear run. Although we had a good green day today - the body of the candle was not good enough. So I am not changing my stance from bearish to bullish instead, I am going with a neutral stance for tomorrow. The support and resistance levels of 19446 and 19776 still stay as it is - a break on either side will shift my stance in that direction.
NSE:NIFTY
by viswaram