AIRTEL HAS A LOT OF STEAM LEFT?BUY once it closes above the stage in 1hr time frame till the end of the day.
Cannot give targets as the markets might be very volatile after DIWALI... trail your stoploss with HHHL pattern in 30 min time frame.
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BHARTIARTL trade ideas
Bharti Airtel - Long trade - SL 680 Bharti Airtel, unlike its nature, is stuck in a very narrow range. If it had to go down, it would have happened by now. But the fact that it is holding its upper levels is a very positive sign for the bulls. Plus, it's available at a very attractive RR, 680 should be the stops, and targets should minimum be a new high. Watch for its price action early next week to take positions in this stock.
Disclaimer- I have long positions in this stock, please consider your risk and reward. Bharti Airtel tends to make very volatile moves.
Airtel symmetrical triangleAirtel is forming a symmetrical triangle pattern followed by a head and shoulders pattern on 30 min time frame Can be a good swing trade upside targets can be 728 and the all-time high downside target can be 650 volumes are low as the pattern is forming could expect a breakout on Tuesday.
BHARTI AIRTEL - BULLISH SETUP - 1HAs we know, Bharti Airtel is in an uptrend, i.e. making Higher Highs and Higher Lows. It has a higher probability of continuing its uptrend and we may see its new all time high. The logic behind the setup is :
1. Price broke the trendline from the top which was giving resistance. Its in the bullish correction phase now.
2. Inverse Head and shoulder, which is a bullish pattern.
3. RSI divergence, i.e. Price made a lower high but momentum made a higher high.
One can enter the trade only after the smaller trendline is broken, keeping the stoploss below at 675 and taking primary target at 750. Target depends on the market trend and one's Risk Management. Potential targets are shown in the chart.
Disclaimer : This is my personal analysis and opinion. Its not a recommendation or call. I am not a SEBI registered advisor. One should do its own analysis and consult their financial advisor before taking the decision.
This is my first published idea. Please let me know your views.
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