Bhartiartl, STC India

Bhartiart:
Trendline Breach: The stock has breached the rising trendline, and can be seen as an ideal short candidate. Refer chart below:
The stock has closed at 325, below its 55 EMA @ 327.01, with EMA 5 @ 326 & EMA 13 @ 325. The next immediate EMA support is at EMA 34 @ 321.78. The stock is still weak since it is below its 89 day SMA. On weekly basis, the stock is below its 13 Week EMA which stands at 328, while all other EMAs are stacks between 350 to 365. The 5 week EMA is now at 322.53.

Bhart Artl : Chart 1

The stock on longer terms charts is makingan in Head Shoulders pattern with neckline at 275. A breach of neckline could propel the stock to a plunge to Rs. 145 level.
Bhartiartl : Chart 2 : HnS possible

STC India:

STCINDIA (nse ticker) has given an upward breakout. The stock based on Rectangular pattern breakout can reach 542 and based on Bullish Flag Breakout can reach 726. The stop loss for this Long trade shall be Rs. 380 zone.

STCINDIA: Chart 3 : Rectangle BO / Flag / Inv HnS

Bhartiartl: Short Trade

 Bhartiartl:
On Hourly charts, today bharti artl has given a break down at Rs. 314 forming an Inverted Cup and Handle with Cup Lip at 314. I expect the stock to trade down with stop loss above the cup at a 321. Based on the distance from the Cup top to lip, the stock seems to be poised for downside of approximate 284 with possible support and resistances marked on the chart.

On EOD basis, the stock has closed below 50 SMA and is currently below all its leading moving averages. As such, it can be said that the rise from Dec start was merely an upward break after selling pressure, the stock major support at 280 to 270 zone.

A Close below that could propel a massive Head and Shoulder formation. However, there are various checks and balances for the completion of formation. But for now on EOD basis watch 280 to 275 zone. Based on intraday data analysis, the stock reaching 284 zone is highly probable.

Based on Swing indicator, the stock has today broken 5 to 9 days swing. A close below 309.05, could lead to a 10 days swing break.

Verdict: Short
Current trailing SL 313
The black channel on Hourly chart hold for downtrend, break above that could also lead to change in position.

Following are basic Support and Resistance levels to be watched for Bharti for current week and current month.

Pivots	Monthly	Weekly
S2	246.00	302.75
S1	273.00	310.00
Pivot	299.50	322.45
R1	326.00	329.70
R2	352.50	342.15

 S: denotes Support, R denotes Resistance

Disclaimer: These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
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