BHARTIARTL trade ideas
#BHARTI #Breakout Bharti Airtel: 1D: Chart is just for reference and one can easily make out how best this stock is consolidating between broader range to take support around 645 - 650 level time & again. As of now it is trading around lower level of the range and possibly may give bounce towards 700. Close above 700 there will be double bottom breakout too.
Bharti Airtel Trend AnalysisA potential Head & Shoulder pattern is forming, break of the neckline will drag the price lower towards 540 level.
Even though the OPM% is superb, borrowings are increasing YOY to concerning levels.
Net profitability will take a hit with increasing interest rates due to quantitative tightening.
25,980 crores of AGR dues to be paid till March 2031.
All these factors are directing towards a bearish sentiment.
Good to look for shorting opportunities now.
Better to accumulate around 520-550 levels for the following targets:
Short term swing target @ 630 (16.67% ROI with 2.25 R:R)
Medium term swing target @ 750 (38.9% ROI with 5.25 R:R)
Long term positional target @ 880 (63% ROI with 8.5 R:R)
Do your own due diligence before taking any action.
Peace!!