Who are in support of bharti airtel that it will take support of 371 and bounce back , comment accordingly.
And who are in support that bharti airtel will fall below 371 and continue his downtrend ?
Lets see the power of technical analysis of all traders !!
Thread open for comment till few days .
My view is that Bharti airtel will fall below 371, but i am considering 366 as support level . Bharti airtel closed below major support level ( 380 ) after trading at level near 380 from many day’s in to a congestion or a trading range level of 365-366. So i assume Bhrati airtel downward trend is decelerating in to a side ways / trading range ( 365 - 380). and also i assume , by considering long term chart , downward trend accelerate below 365 level.
Now what you say …
Bounce back from supprt till resistence at 410 or still not.
Well i wanted to write about Bharti , when it crossed back above 380 level and also after 392 level, i accept my first view was defeated by the market , when i was posting , 371 level was in my mind , ignored the false breakdown below 380 level i was very negative on Telecom sector. . But i was sure that down trend in Bharti airtel was decelerating
After checking charts again , i assume Bharti Airtel will cross 410 easily till 421 & 430 level . all chart indicators are showing upward bias for Bharti airtel and also it crossed above 20 DMA
Yes you were surely correct but you may be didnt notice the main support 374 - 371.
My stop loss was also 370 .
And had tensed when it touched 374.3 level.
But it reversed from that level.
Which was good indication when it reached above 392 resistence then it was giving good feeling
Now your expectation are also fine and depends mainly on Results coming on 24th April.
What you say about results.
I have doubt here…because of trend line resistence near 409-412
If it crosses momentumly then great other wise consolidation or fall back few point !!
Yes correct i considered 380 & 365 only. Since i rely on TA , i don’t use much Fundamental analysis, but the price momentum , indicates a better results by Bharti airtel , and also there is a news about Netflix & bharti airel is offering it to their customers.
Slightly , i differ here, nearest resistance levels are 406- 411 , i assume after 380-392 and 400 resistance levels , all three major resistance levels crossed easily , so crossing 406 - 411 level’s are not much difficult
Yes i give your view more reliability .
Its good view .
Result as per my self also positive.
Lets see what happens on 24
The resistance level at arrow mark comes at 406 level , i assume my analysis are proper , but , still market has to confirm ,
Yes mine also 406-408
I took high and u took close thats the difference
And due to small time frame it is different and in longer time it is different as well.
Try to avoid appreciate my views bcos , there are lot many naysayers on Trading Q&A constantly mitigating thread after threads , messing up purpose of that particular thread, especially threads related to Technical analysis . so chances of a naysayer descending on this thread
After checking Bharti airtel chart again today , on long term chart H&S ( head and shoulder )formation is visible , So i am not recommending , just a yellow flag , imagine if i were you , i will take out 50 % profit on 23-4-18 and let the other half to see , if results are good or not.
As you said:
Just wanted to test myself!
In days to come, IMHO BHARTIARTL may fall below 371 and find support around 350 or 330 or 300.
To add, for trading I would avoid this counter as the chart clearly depicts clear indecisiveness. Hence chopiness.
Let us see…keep me posted!
Yes every one has there own view , and it might be possible due to downtrend as per long term view.
With bad result breakout done.
Thats make TA as supreme then Funda.
Exactly , people who follow Funda’s ,scratching their head for the reason behind today’s Bharti Airtel’s price movement , whereas TA indicated today’s price level of Bharti airtel 3 days earlier
Now it fall back .
But fall for pull back .
May there could be another reason for gape up and breakout .
Today was the FNO expiry day , there is an interesting action on Bharti airtel stock price , open & high was exactly at 420 , yesterday and today it failed to close above resistance level of 421 , but reversed from day low ’ & support level of 406 & closed above it , so Bharti airtel price action on next trading day will show its the clear direction. If Bharti airtel fails to close above 421 level confirms the H&S formation on long term chart.
I have also analysed & as per my view it can either retest the price level upto 435-440
Or fall down and make H&S Pattern.