Below is the technical chart of Bharti Airtel Ltd., listed on Indian stock exchnage, with ichimoku Kinko Hyo indicator. I’ve used daily time frame.
This stock is trading near very crucial levels. In the last few trading sessions, sometimes it CLOSED below kumo – giving bearish breakout and sometimes CLOSED above kumo – giving bullish breakout. But could not sustain neither possibility.
In the last trading session, it got support at kumo and managed to closed inside kumo – which is no trade zone.
So, next few trading sessions are very important for Bharti Airtel. That will decide its short term journey.
If it closes below kumo viz. 381.30, it will start its downward journey. And if it closes above 387.70, it will upwards. 366.90 is a very major support level.
So, watch all these levels carefully before you start trading in it.