Bharti Airtel rounded top formation completed and but got support from the 400
First perspective
According to the analysis
1, It got support from 400, that is very strong support zone (360-400)
you can check monthly and weekly time frame to get an idea
2, Break down of this support zone, will leads to 275 target then 225 will hit (note: will take more than 6 months to hit the final target) (Higher chance)
3,next week is very crucial for bharti Airtel, weekly close above 420 will leads to min target of 500.
Second perspective
1, Bullish engulfing and follow up bullish candle, suggest short term bullish view. that to match with the 3rd point of first perspective
2, Formation of inverted cup and handle, handle will ends in 0.382 or .500 of cup height ie, 500 & 520 (Short term - most possible one)
so short term bullish, Potential reversal zone 500 or 520.
3, Short from 520 will hit 400. then 2nd point of first perspective
Third perspective
1, It will retrace up to .786 of cup height (Fib ret) and then start down move to 400
2, very weak one, move to hit 600 again to form double top and then start down move
3, very less chance, breakup of 600 to make new high
First perspective
According to the analysis
1, It got support from 400, that is very strong support zone (360-400)
you can check monthly and weekly time frame to get an idea
2, Break down of this support zone, will leads to 275 target then 225 will hit (note: will take more than 6 months to hit the final target) (Higher chance)
3,next week is very crucial for bharti Airtel, weekly close above 420 will leads to min target of 500.
Second perspective
1, Bullish engulfing and follow up bullish candle, suggest short term bullish view. that to match with the 3rd point of first perspective
2, Formation of inverted cup and handle, handle will ends in 0.382 or .500 of cup height ie, 500 & 520 (Short term - most possible one)
so short term bullish, Potential reversal zone 500 or 520.
3, Short from 520 will hit 400. then 2nd point of first perspective
Third perspective
1, It will retrace up to .786 of cup height (Fib ret) and then start down move to 400
2, very weak one, move to hit 600 again to form double top and then start down move
3, very less chance, breakup of 600 to make new high
Comment:
it hitted 600
Trade closed: target reached