View on BHARTI AIRTEL ? April Month

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 !! :wink:
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.

1 Like

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

1 Like

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 :slight_smile::blush:
Now your expectation are also fine and depends mainly on Results coming on 24th April.
What you say about results.

1 Like

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 :+1:

The resistance level at arrow mark comes at 406 level , i assume my analysis are proper , but , still market has to confirm , :slightly_smiling_face:

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 :slightly_smiling_face: 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 :slightly_smiling_face:
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 :slightly_smiling_face: :smiley:

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.