As expected from 320-325 zone D-leg shall be done, which completes the setup for bullish harmonic pattern our key Support level is 282- which is X-wave low.
Bullish Harmonic Pattern
Larger Picture - As per larger picture -282 is very crucial as it X- Wave bottom & price invalidation level- going below 282- It will spoil the structure.
It is been observed that the price action breaks below 300 support levels on daily chart and now it shall move further down to the next support levels at 290 levels.
Target: 290
Stoploss: 325
BHARTIARTL seems to have formed double-bottom near 312 price level.
A Long trade can be initiated with StopLoss of daily close below 300 with potential target(s) of 348 and 390.
There is a potential bullish harmonic pattern - it really looks up but kindly take positions with your due diligence.
PRZ-Potential Reversal Zone is 293-310 - Target could be a substantial move to the zone 420-450 as per earlier update mentioned below
Since Year 2007 - Bharti Airtel from its high@592 has been falling & tracing a triangle in X- Wave of W-X-Y Pattern.
Its a monthly chart- which tell us that Bharti could first bounce in the zone 410-430 to get resistance from year long trendline A-C which can be the biggest hurdle for its current rally.
Let the market prove me wrong if it goes above C-wave...
