Airtel: At 200 DMA Support

BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis:


Airtel fell again today, but has found support.

Close & CMP: 317

Market Outlook:

• The price fell today but found support at the 200 DMA.
• Moreover, there is double support as a previous consolidation area is also co-inciding with the 200 DMA.
• There is a chance that the price fall may be curbed.
• If the price falls below its 200 DMA, then Airtel will present an opportunity to go short.
• Airtel आज फिर गिरा.  लेकिन उसे अपने २०० DMA पर सुप्पोर्ट मिल गया है.  अगर २०० दमा को तोड़ कर नीचे चला जाता है, तो हमें शोर्ट पोसीशन लेने का मौका मिलता है. 

Technical Indicators:

• The price is resting on its 200 DMA.  In Nov 2010, the price touched its 200 DMA and rose back.  Let's see if the same will happen now.
• There is a previous consolidation area near today's closing price.  This is also acting as support.
• Momentum is improving, which is a good signal as well.
• The price rose above its 200 DMA in June 2010.  Falling below the 200 DMA is largely negative and if that happens, the stock price might then remain below 300 for some time.  

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BHARTI AIRTEL Daily NSE Stock Chart Technical Analysis

NIFTY: Today's Chart Analysis

NIFTY Daily Chart Technical Analysis:

NIFTY fell again today but found support before closing.  

Close & CMP: 5417

Market Outlook:

• The index had another long fall today, but is resting on support.
• If NIFTY falls again tomorrow, it should find further support until 5350.  Falling below this level could be dangerous.
• आज NIFTY फिर से गिरी. पर उसे सुप्पोर्ट मिल गया है और सुप्पोर्ट पर ही रुक गयी.  अगर यह कल और नीचे जाती है तो ५३५० तक सुप्पोर्ट मिलता रहेगा.

Technical Indicators:

• The price is resting on its support line.
• There was a bearish engulfing candlestick pattern today.
• The momentum is showing some upward movement though the force is tremendous.  So the market could go in either direction tomorrow, there is no specific trade signal yet.
• Closing exactly on the support line without breaking is a positive sign.
• A lot of contrasting signals amongst technical indicators; the market is going haywire, and there is high insecurity.  As this insecurity reduces, the market should stop falling like it is right now.

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NIFTY Daily Chart Technical Analysis