BHARTIARTL trade ideas
Bharti Airtel in consolidation NSE:BHARTIARTL
Bharti Airtel is in consolidation zone one can go long on Bharti Airtel if it breaks the consolidation zone. Above 715
CMP - 695
Target 750++
Sl - 680
Glad to know your views on my analysis
Note - Check on your trading setup before entry
This is just for educational purpose
[ INTRADAY ] BHARTIARTL LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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TRADE PULLBACKS LIKE A PROAn Uptrending stock gives many opportunities to enter in it.
But...we miss many of them assuming it as a reversal or before we enter the stock moves much higher again and Risk/Reward ratio is unfavourable for our trade.
Here I am with another tried and tested strategy to find whether it's a pullback or trend reversal and the most IMPORTANT...enter before the stock moves much higher.
So let's discuss Step by Step from STOCK SELECTION to ENTRY,STOPLOSS,EXIT.
I will also be discussing about the candlestick patterns and indicators for better accuracy.
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1.STOCK SELECTION:
.Broader market has to be in a uptrend (BULL MARKET)
.The stock should be from an uptrending sector
.The stock has to be in a STAGE 2 uptrending structure to QUALIFY as a stock for pullback.
For detail explanation of STAGES I have linked a post below:
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2.MOMENTUM INDICATORS
.RSI-- It has to be above 50 to increase the accuracy of the trade
.EMA 50--Slope of EMA 50 has to be positive
.MOMENTUM--If it is positive then it's icing on the cake
.ADX--While the stock is falling ADX should also fall to give a shade better trade.
.VOLUME--Should be low when the stock is falling as compared to Going up
Keeping things simple : IF THE STOCK QUALIFIES ALL THE ABOVE CRITERIA OF SELECTION AND INDICATORS THEN IT IS NOT A TREND REVERSAL
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3.CANDLESTICK PATTERNS
.Low body red candles are a very good sign
.Long wick rejection from the bottom
.Very less big body red candle (NOT MORE THAN 2)
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4.ENTRY
The most important part of pullback trading is to enter before the stock moves very high and also not wait for months for it to move.
STEP-1: Mark the candle of previous high as '0' in daily time frame.
STEP-2:Keep counting the candles from 1-20 as shown in the below figure: (MIN 8 has to be there)
STEP-3: Now when the count is completed mark the lowest price of the stock within the pullback range as 'PIVOT'
STEP-4:Now switch the chart to 1hr time frame as shown on the chart of HDFC Ltd.
NOTE: Candle 0's high has to be the high within these candles (MIN 8)...if not then this strategy might not work well.
STEP 5:Draw a stage structure (BASE) and our entry will be the breakout of this range (50%) and pullback to this STAGE (50%)
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5.STOPLOSS AND EXIT
STOPLOSS: The pivot point will be our stoploss
EXIT: After the stock has broken out of the stage EXIT after 20 counts (It sounds theoritical and funny...but it do works most of the time
Look at the EXAMPLE OF RELIANCE with the concepts mentioned above:
You can also see the EXAMPLE OF AIRTEL's previous pullback
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NOTE: Like all other strategies even this strategy is not 100% accurate.
I hope you liked this strategy of pullback trading and it might increase your chances to make profits in the market.If you have any doubts do let me know in the comment section below.
I will be posting a lot more strategies for trading/risk management in this channel ahead.
FOLLOW this channel to stay updated as soon as I upload it.
Till then,
HAPPY TRADING :)
BHARTIARTL Tring TringA break above 699 levels , stock might attempt to make a move towards 712/722 with an SL of 683
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position.
Simple Trade Setup | BHARTIARTL | 22-10-2021 [ INTRADAY]NSE:BHARTIARTL
Observations:
1) On 1 day time frame,it closed just below 21DMA.
If we apply Fib retracement for recent uptrend, then we can see that major support is at 687.90 level and major resistance is at 712.85 level range.
Today's daily candle look bearish. If tomorrow it trades below today's low then it will invite more profit booking.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame we can see that it came back and trading in the parallel channel again.
Today it broke the middle trendline of it and closed below it.
It has chance to bounce back from the bottom trendline of parallel channel.
If it trades above middle trendline then it can move up till the upper trendline which will work as resistance at this moment.
Sustainable breakout of upper trendline will make it bullish again.
Sustainable breakdown of bottom trendline will make it bearish again.
Please refer below chart : 1hr Time Frame.
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Trade Setup for Date 22-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
BHARTI AIRTEL BHARTI AIRTEL
Managed to close above the round number 700
Breakout of pattern retest also done
If breaks the previous day high then looks good .😍
Disclaimer: This is for demonstration and educational purposes only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before making any trade.
Bharti Airtel Trade Setup For TomorrowAs you can see in the chart, 708 level is a strong resistance two times stock touched this level,
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Today also share try to break the 708 levels but unable to break the resistance.
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For tomorrow you can buy this trade once it goes above 710 for the target of 727.
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Try to avoid the position if stock give gap up opening.
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What's your view on this comment below in the box.