(i) Completed 38.2% Fibonacci retracement (Click here to learn more about Fibonacci retracement) of entire rally from 87 to 203
(ii) RSI 14 hit 25, levels last seen during March-April, 2020
Have a look at chart
Bharti Airtel : Shorts were advised when stock was around 530 and a rounding top formation was easily visible, now while analyzing we noticed that a inverted flag has formed and completed targets, we added longs on Thursday when stock was around 430, we are expecting another 5-10% bounce from cmp.
Bharat Forge :
(i) Same as above inverted flag target done. Trendline support. Bullish engulfing candle pattern.
(ii) Crossover on Technical Indicators like William% R and Stochastic
(iii) RSI tested 20, and now at 30+
(iv) 5-10% move expected, stop below recent low.
To learn Technical Analysis (online)
