Bharti airtel trading in a bull channel. Channels can be traded very simply by buying at the lower channel line seeing any reversal candle and shorting at the upper channel line seeing any reversal candle. Avoid trading at the middle. This is just an example of bull channel.
Nifty is trading in a range for sometime. no good news in market to move nifty higher.
series of bad news are only coming. recent one day upmove after the sharp sell off was just a
short covering i believe. but be ready for reversals as whenever retailers turns completely biased
in one directon market does the opposite to trap traders.
Often Break outs turn out to be a fake one and it traps traders. we can see a good example of this into this chart. one way to confirm the break out is to wait for a good follow through bar or retesting of the breakout point. Don,t initiate position just seeing breakout if you wan to be safe.aggresive and experienced traders can do so but for retailers its better...
From long term resistance ceat has reversed with good bullish candles. now after a slight retracement it is again at the brink of breaking a resistance level and by judging from the bullish momentum it will break the level. if after breaking it sustains above it then it will provide a good swing oppurtunity.