Prior secondary downward trend
Bullish piercing formed with high volume (Also looks like a hammer to me)
Given the deep stop loss this is a high risk trade to be taken with hedging
Sorry about the image quality (is due to the massive movement of the stock today) – difficult to capture in one frame
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Stock Ticker – NSE: BHARTIARTL – Bharti Airtel Ltd. – TELECOM
Bullish Trade plan:
Entry Level 376 Target 426 Stoploss 326
Analyst Rating – :3/5
View Posted on 2019-10-24
Go by the charts but also keep this news in mind before taking a position in Bharti Airtel:
Telecom stocks suffered massive selloff after the Supreme Court rejected the telecom companies’ definition of Adjusted Gross Revenue (AGR). This means telecom companies will have to pay up as much as Rs 92,642 crore to the government. Bank stocks also fell on concerns about their exposure to the beleaguered telecom companies.
Very Good Point.
i don’t think so it is engulfing. since the previous body is no completely engulfed.
You are confusing piercing with engulfing. Please see the analysis again.
Its a good piercing with more volume. However, need to watch-out due to the tax due news.
Yes, thanks.
Seems like risk reward ratio is 1:1 and also Can you please explain how did you set the target. Because as per your trend line resistance will be around 400 rupees in that case risk reward still reduce.
The low of the candle is the Stop Loss. The high is the entry and target set to this in 1:1 ratio to Stop Loss. Please refer image.