Stock : Bharti Airtel Ltd
CMP : Rs 773
From the charts it is clearly visible that Bharti is in a strong downtrend for the past one year and it is simply repeating the pattern (H-R1-R2-L)-(H-R1-R2-L) (Where H- High, R1 – Retracement 1, R2 – Retracement 2, L – Low ) and this pattern is repeating for past three times.Means every time the stock see a new low it immdiately bounce back to a new high and whenever the stock reaches its lower high it is not immediately ready to give its gain and the stock losses its potential after few retracements.
And the retracement R1 & R2 levels provide us good oppurtunity to short the stock and whenever the stock reached new low it provide us the huge oppurtunifty to go long in this stock.If you follow the pattern you would get a
great buy around the lower trendline which comes roughly near 650(Buy for short term) and a breakout buy above the upper tredline 850(Long Term).