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Airtellong

Airtel - Potential BreakoutObservations : 1. Airtel has been moving downwards for a few weeks now. 2. It has tested and respected 200-EMA multiple times (more than 5 times) in such downfall 3. It is currently trading around 200-EMA 4. Volume dry up and loss of momentum can be seen, Usually it is followed by a spike in volumes and a super-move (either side) 5. After looking at candles and overall chart structure an Ascending Triangle with upper trend line + 200-EMA line can be formed. It indicates a higher probability of an UP MOVE in coming weeks 6. Along with 200-EMA, price has been respecting the Fibonacci Levels of 50% & 61.8% too. (For fibo - use weekly chart and draw fibo levels from inception of the up trend) 7. Multiple supports (demand zones) below CMP and probability of an up move after triangle breakout makes it a potential breakout candidate Risk Reward Ratio is 2.5 times or more. (Expected Profit is 2.5 times more than expected loss) Keep an eye on the price action. Ideal buy would be above 545/550 levels subject to high volume breakout. Do you analysis. Thanks
NSE:BHARTIARTLLong
by techmental_AK
BHARTI AIRTEL TECHNICAL ANALYSISAs per the Technical Analysis Chart Pattern, BHARTI AIRTEL Share INTRADAY view. The potential upside with the break out above 433.50. We can follow the strict Stop Loss of 429. It will only Buy After the breakout of the upper trend line which is acting as a resistance level. Intraday Target can be taken as 439 as first and 445 as the second. Traders, If you liked this idea, hit the like button and write in the comment section. This is only for educational purposes.
NSE:BHARTIARTLLong
by intelligence7