Airtel falling below in Price Channel

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

Airtel reaches support point

Airtel continues in its 4 month price channel, touching the support line today.  Coupled with stochastics, it indicates that the price should go up again tomorrow, atleast to the point of resistance.  Unless the market opens lower than support tomorrow, today indicates a buy signal for Airtel tomorrow.

Chart Source: www.moneycontrol.com, in.reuters.com