BHARTI AIRTEL – BHARTIARTL Elliott Wave technical analysis [Video]
|BHARTI AIRTEL – BHARTIARTL (1D Chart) Elliott Wave technical analysis
Function: Larger Degree Trend Higher (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((iii)) Navy.
Details: Minute Wave ((iii)) Navy looks complete around 1650-55 range. If correct, expect a corrective Wave ((iv)) Navy before the next leg up. Alternatively, Wave 5 Grey of Intermediate (5) is now complete.
Invalidation point: 1423.
Bharti Airtel Daily Chart Technical Analysis and potential Elliott Wave Counts:
Bharti Airtel daily chart has registered a fresh high around 1600-50 on September 13, 2024. It could be Minute Wave ((iii)) Navy complete as bears look to drag prices lower near-term. Watch out for support around 1500-50 range before the final push higher.
Bharti Airtel has been in a religious uptrend since August 2023 after hitting lows around 850 mark, terminating Intermediate Wave (4) Orange. Minor Wave 4 terminated around 1225 on June 04, 2024 and Minor Wave 5 is progressing since then.
Furthermore, the stock may pullback in the near term towards 1500-50 range before attempting another high above 1650 to complete Minor Wave 5 Grey. Alternatively, Minor Wave 5 is complete around the recent high (1600-50) and prices should resume lower soon.
BHARTI AIRTEL – BHARTIARTL (4H chart) Elliott Wave/technical analysis
Function: Larger Degree Trend Higher (Intermediate degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((iii)) Navy.
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey looks complete around 1650-55 range. If correct, expect a corrective Wave ((iv)) Navy before the next leg up.
Alternatively, Wave 5 Grey of Intermediate (5) is now complete.
Invalidation point: 1423.
Bharti Airtel 4H Chart Technical Analysis and potential Elliott Wave Counts:
Bharti Airtel 4H chart highlights the sub waves within Minor Wave 5 Grey. Minute Wave ((ii)) produced a potential triangle while Wave ((iii)) looks complete around 1650. If correct, bears should be back in control in the near term to carve Minute Wave ((iv)).
Conclusion
Bharti Airtel cold slip lower to carve Minute Wave ((iv)) Navy towards 1500-50 before resuming higher gain towards 1650 as bulls prepare a final push.
Elliott Wave analyst: Harsh Japee.
BHARTI AIRTEL – BHARTIARTL Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.