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Bhartiartl |
loretto
White Belt
Joined: 30 Sep 2008
Posts: 147
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Post: #1  Posted: Wed Feb 26, 2014 9:36 am Post subject: Bhartiartl |
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it seems Bhartiartl forming inverse h/s pattern hourly tf.. take a look.. tgt 296-300 sl 282 (look then decide then trade)
ty
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2 Posted: Sat Mar 01, 2014 3:48 pm Post subject: Re: Bhartiartl |
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| loretto wrote: | it seems Bhartiartl forming inverse h/s pattern hourly tf.. take a look.. tgt 296-300 sl 282 (look then decide then trade)
ty |
Loretto, Though I'm not very experienced in trading H&S, but pl. see the attached chart on EOD.. It reflects that not only it has broken H&S for downside, it has broken support trendline also.
So in my opinion downward tgt is 260 as per H&S.. Rest take ur call ..
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #3 Posted: Sun Mar 02, 2014 10:31 pm Post subject: Re: Bhartiartl |
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| loretto wrote: | it seems Bhartiartl forming inverse h/s pattern hourly tf.. take a look.. tgt 296-300 sl 282 (look then decide then trade)
ty |
Hi
Bharti Airtel is moving in a range of 266 - 370 since last one year
And in the range of 280 - 370 since last 6 month or so.
If we see 6 months daily chart, then we can see that there are multiple patterns including multiple H&S and IH&S besides other patterns. And it will be difficult to ascertain their respective targets in the crowd of patterns.
We also find that the fall may be due to a H&S. Now you will notice that right side of an H&S will/could be the left side of an IH&S.
So assuming that it could form an IH&S now,
IMO the initial trade you have taken, seems right.
Currently, since last 3 month, Bharti is moving in a falling channel.
Further I have observed a +ww also with target 320, will trigger once over 293-5.
So you can go long with a target of 320 with initial SL of 278-80 (if find comfortable) and trailing it once it moves upwards of your target. I also think that once below 270, it can fall to new low levels.
I may add this is my analysis and no call given to act as per my opinion.
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loretto
White Belt
Joined: 30 Sep 2008
Posts: 147
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| Post: #4 Posted: Fri Mar 07, 2014 11:07 am Post subject: |
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thank you sumesh and soumya 
booked at 300
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