Bharti Airtel performed very well in the last 2 months. How this move was captured on Gann Angles and RSI set up is what this post is all about.
Here I am posting the 3M chart of Bharti Airtel. RSI @ 3 months closing candle of Mar 2020 took support @ 60 zones. This was the starting point for a possible bullish move in the next 3 months. So we will evaluate on a lower time frame i.e. monthly charts.
At the end of Mar, Monthly RSI was taking support @ 60 zones (actual value @ 58.67). So this reinforces 3M chart bullishness.
Gann Angles:
On Monthly Gann Angles Mar candle shows a sharp reversal from 45 degrees (1/1) angle, strong confirmation of bullishness.
So based on 3M and M-RSI and Monthly Gann Angles, we should take a bullish view and then look for an opportunity to enter on a weekly/daily time frame.
This is just a case study on how Gann Angles and RSI gives good trade set up. I found this opportunity in the middle of Apr, kept watch on it. I did not took trade in Bharti airtel.
What Next for Bharti Airtel?
It looks there is a strong resistance zone @ 620-640 where channel and trendline are present. So one needs to be cautious.
Here I am posting the 3M chart of Bharti Airtel. RSI @ 3 months closing candle of Mar 2020 took support @ 60 zones. This was the starting point for a possible bullish move in the next 3 months. So we will evaluate on a lower time frame i.e. monthly charts.
Gann Angles:
On Monthly Gann Angles Mar candle shows a sharp reversal from 45 degrees (1/1) angle, strong confirmation of bullishness.
So based on 3M and M-RSI and Monthly Gann Angles, we should take a bullish view and then look for an opportunity to enter on a weekly/daily time frame.
This is just a case study on how Gann Angles and RSI gives good trade set up. I found this opportunity in the middle of Apr, kept watch on it. I did not took trade in Bharti airtel.
What Next for Bharti Airtel?
It looks there is a strong resistance zone @ 620-640 where channel and trendline are present. So one needs to be cautious.
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