BHARTIARTL trade ideas
BHARTIARTL looks bullish to me.NSE:BHARTIARTL
BHARTIARTL Looks BULLISH on Daily chart.
To me BHARTIARTL looks bullish on daily chart. But Why??? read below given Simple no brainer view.
Area of 547-587 looks like area of re-accumulation after hitting a new lifetime high.
Now today on 13/08/2020 candle form right below the area of re-accumulation which was mention above, but candle not managed to close near the low which most of retailers were thinking of but its close in the middle and now may be confused with current scenario and still hoping BHARTIARTL to fall.
But ask one question to your self a question if there was really a that good supply in stock why its not mange to close near the low even after giving a breakdown to string support of 547.
DM if want know the answer you were asking to yourself..
Stop Finding Candle Stick Patterns Or Chart patterns simply focus on Price And Volume Only. Chart will Show you the Pattern you are looking for.
If view went good I will be looking for buying BHARTIARTL above 547 with SL below 520 both closing basis only on daily chart. Will hold this for Short term if activated
Bhartiairtel on a Brink of FallIt's not easy for a strong momentum to break down. Stock upmove is emotional in psychology to the investors and positional traders. It is a pure distress if it fails to respect the hope and expectation.
A failure of the Point 1 accumulation in BHARTIAIRTEL would pull back the stock to a downward spiral.
long on bhariairtelLook like BHARTIAIRTEL has completed triple three pattern (WXYXZ) and if this pattern is correctly identified then primary trend upward is going to come. If I would give 3-4 weeks time to analyze this.
If it starts going down then I will exit else its good long trade.. chances are high for reversal here.
BHARIAIRTEL ::: POSITIONAL SHORT24 JUL 2020
INSTRUMENT: BHARTIAIRTEL
TIME FRAME: WEEK
PROCESS: WEEKLY CHART
MY ANALYSIS:
BHARTIAIRTEL IS MOVING SIDEWAYS FOR SOME WEEKS NOW.
STOCHASTICS CONFIRMING BEARISH DIVERGENCE.
IF INTERESTED IN DOING JOBBING ON INTRA DAY BASIS YOU CAN TRADE BETWEEN 594.65 TO 560.50.
IF YOU ARE INTERESTED IN SOME GOOD PROFITS AND ARE INTERESTED IN HOLDING FOR SOME TIME. WOULD PREFER BUYING PE OPTIONS.
AS YOU CAN SEE THIS IS WEEKLY CHART WOULD PREFER SHORTING BHARTIAIRTEL
SHORT BELOW 536
WITH A STOP LOSS AT 561.
FOR TGT. 01: 487
TGT. 02: 459
EXTREME TARGET: 419.
RISK DISCLOSURE :
Technical analysis oF FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.