Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Bharti Airtel Trading Near Major Resistance

1 min read


 

CMP : Rs 770
 
 
Inference from 15 min Charts(15days)
 
This is the chart is like to produce this time. It is a 15 min chart of Bharti Airtel.
In My Last post about Bharti Airtel i said that Bharti is repeating a pattern called
H-R1-R2-L-H-R1-R2-L for the past 1 Year. And following the same trend this time.
Iam this time able to spot the retracemnt Point R2 as shown in fig. Remember in
my last posting i said that R1 and R2 are the good points to short. And ofcouse R2
will be followed by new low L.
 
From the 15 day – 15 min chart i found that the past low comes near 695 and the
new Low Shoud be anywhere below the Past low 695. As the 1 Year Trend Channel
for the Bharti is in downtrend. And following the way of the stock behaved.. It is good
to short bharti at cmp with stop loss at 785 is opinion for a target of 700-680.
 
I recommend to go for futures and as per pattern formed one can go for short even near
750 for a target of 700.

For My Last Posting About Bharti Airtel Please visit
Bharti Airtel – Simple Trend Line Analysis

Infterence from EOD Charts :
 
1) MACD Dips below the importane level Zero : Current Value : -8.378 – Bearish
2) Stock Trading below 20 day EMA(799.4) – Bearish Short Term
3) Falling RSI – Bearish and Rising Stocastics (Bearish).
 
In Summary
 
Short Bharti Airtel September futures at current level(CMP : Rs 770) for a target of 720 and 695
with stirct stop loss near 785
 
Maximum loss = Rs 15/Lot = 15*250 = Rs 3750
Maximum Profit =Rs 75/Lot =  Rs 18750
 
Remeber Failing to trade without stop loss may trigger you heavy losses. So do your trade
with strict stop loss.
 
Happy Trading !!!
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

GANN Shorter term update for Nifty as on 15…

  GANN Supports zone near 5005. More weakness below 5005 as next support near 4780. Avoid longs if nifty dips below 5005. Source: www.marketcalls.in
Rajandran R
5 sec read

Larsen and toubro update

  Trailing Stop Loss Update for Larsen and Tourbo   Cover Shorts and reverse the position if LT closes above 1665. Source: www.marketcalls.in
Rajandran R
6 sec read

JP Associates is getting Weaker

  1)Stock is showing massive MACD divergence 2)Price is currently below 13,34,55 EMA and these levels could act as a resistance in coming sessions. 3)Stop loss...
Rajandran R
12 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More