Bharti Airtel: Can Bharti make a good cup of tea??? 😉
Bharti Airtel
Observations
- we are looking at monthly chart for Bharti Airtel
- since March 2021, the stock has not done much and is consolidating
- the stock is consolidating above the breakout green line and
- a Cup & Handle Pattern is still intact that has took 14 years in the making (a scotch would add value in that long period 😉)
Would that be the case for Bharti Airtel???
only time will tell...
- momentum might come in once closing is above 560 (on a weekly or monthly closing basis)
Given the set up,
Consider buying in 2 tranches
- one at current levels and 2nd on further dips towards 496 / 480 levels
- target for the given set up 765 / 824
- set up provides Risk::reward ratio of 1::5
Time frame: Medium to long term
Best wishes & Take care...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Observations
- we are looking at monthly chart for Bharti Airtel
- since March 2021, the stock has not done much and is consolidating
- the stock is consolidating above the breakout green line and
- a Cup & Handle Pattern is still intact that has took 14 years in the making (a scotch would add value in that long period 😉)
Would that be the case for Bharti Airtel???
only time will tell...
- momentum might come in once closing is above 560 (on a weekly or monthly closing basis)
Given the set up,
Consider buying in 2 tranches
- one at current levels and 2nd on further dips towards 496 / 480 levels
- target for the given set up 765 / 824
- set up provides Risk::reward ratio of 1::5
Time frame: Medium to long term
Best wishes & Take care...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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