Airtel has just breached its 4-month support line and price channel. The stock is oversold and may bounce back. If market continues to go downwards it's time to tighten your stoploss if you have not already done so.
Keep an eye on the stochastics movement for clues. Doji formation on 11th shows some resistance to the stock in moving further downwards.Chart Source: in.reuters.com, www.moneycontrol.com
Additionally, it has also breached Fibonacci Retracements 50% level calculated from mid-august swing low. The next points to watch are 334.40 and 324.35. If it goes below both of these points, the last bastion is around 308 price levels. Watch out for these points.
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