Stock of the week trading Idea 29 to 02 june 23Hello Traders,
This stock of Bharti Airtel is picked for your trading with the purpose of adding some value in your earning. For this you need to understand both part of my predictions in form of marking that you are watching and predictions, how to use them by checking below .
BHARTIARTL trade ideas
BHARTI AIRTEL - POSSIBLE ELLIOT WAVE COUNTSHELLO FRIENDS,
Today I am sharing the possible ELLIOT WAVE counts of BHARTI AIRTEL on monthly, weekly and daily time frames.
Bharti Airtel is in wave (5th) of 3rd wave of bigger impulse wave 12345.
Generally as per ELLIOT WAVE guidelines, bigger wave 3 may go up-to 1.618 of fib levels which is around 1060 on spot chart and also shown in the charts given below.
WAVES and DEGREES to refer and understand the chart smoothly.
Bigger Wave - 12345
one degree lower wave - (12345)
two degree lower wave ((12345))
three degree lower wave - (((12345)))
Time frames and ELLIOT WAVE COUNTS
MONTHLY - BHARTI AIRTEL is in the 3rd Wave of bigger Wave 12345
WEEKLY- It is in the ((5th)) wave of smaller degree wave ((12345)) which will complete Wave (3rd) and then after we can see some correction in wave ABC or ABCDE to complete wave 4 and after completion of wave 4, the price will again move towards north to start wave (5th) that will complete bigger wave 3rd
DAILY- It is in the smaller degree wave (((1))) of higher degree wave ((5th)) which will complete the wave (3)
monthly time frame chart which is showing that the price is in wave 3 of bigger wave 12345.
weekly time frame chart showing that the price is in wave ((5th)) of wave (3)
daily time frame chart showing that the price is in wave (((1))) of wave ((5))
It has also give a breakout of BASE FORMATION PATTERN with intensity is volume (i.e. volume is above MA)
at the time of breakout, trend indicator such as MACD and Oscillators such as RSI also shows strength in price.
MACD in daily
MACD in weekly
RSI in daily
RSI in weekly
Price is also above 100 Exponential Moving Average in Daily Time Frame
Summary-
Price showing UPTREND as per Elliot Wave
and also Price has given Breakout with good intensity in volume which again supports our bullish view.
Price have given close above 100 EMA which also signifies the bullish view.
trend indicators and Oscillators are aligned in double time frame which boosts the importance of our view.
Thus, stock is supposed to move in north.
DISCLAIMER
I am not SEBI registered analyst.
please consult your financial advisor before investing.
My studies are for Educational purpose.
I am not responsible for any kind of your profits and losses.
Bharti below 200 with a consolidating flagBharti breaks key support and ends below 200. Take an itm put as iv is multi month low. 760 put is just 3 bucks if extrinsic value
Keep a stop at 760 which is the 200. The put will lose 50 percent at the stop. Target of 710 which is the next logical support.
Bonus, bharti coming out of a multi day squeeze and flag, which is fairly unique
Can 5G save this overpricsed stocks... Disclaimer : It is not a financial advice am not a professional I don't take responsibility for your loss or this post is not to hurt anyone sentiment or reputation it is for educational
purposes.......
Airtel month chart showing 2 regular bearish divergence and on top of that a falling wedge, and it near ath my suggestion here is to consider taking some profits if you hold
it can do something like what i share in my charts
do your own research before taking any action take care ..................... k902 out
Har Har Mahadev
Bharti airtel 15minTOMORROW STOCK🔰
Bharti airtel is looking good for tomorrow bharti airtel is in range bound and price at crucial zone and upper gap is pending if opening under the resistance we can sell if price opens up of the resistance it going to fill the gap wait for the confirmation candle resistance breakout could be more probable than reversal
Have a profitable day
Thank you😊