STOCK : BHARTI AIRTEL LTD.
CMP : 854.80 (25/06/2023)
ABOUT : Bharti Airtel Limited is an Indian multinational telecommunications company. It is headquartered in New Delhi, India, and operates in over 18 countries in South Asia, Africa and the Channel Islands. Bharti Airtel is one of the largest telecom service providers in India and offers a wide range of services including mobile voice and data services, fixed-line broadband, digital TV and enterprise solutions.
TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (DAILY TIME FRAME)
(CLICK ON ABOVE IMAGE FOR CLEAR CHART VIEW)
OBSERVATION :
As we can see that the stock has formed a CUP AND HANDLE pattern on a daily time frame. once the stock gets break out of such pattern, the stock is it travels the distance equal to the distance between the bottom of the cup and the neckline. we may expect the stock show (15-20%) up side rally coming days/weeks.
Above 860 expecting the stock to show (901/950/1,010/1,080) levels.
How does CUP AND HANDLE pattern works? (click here)
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Note : It's important to note that the is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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