Bharti Airtel - Analysis for Intraday and Swing Trading

Bharti Airtel is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed PEL - You can check here.

Bharti Airtel  Option Front :
Bharti Airtel has given closing at 495.0 on 23^rd April 2020. Highest call open interest is at 500 strike price, followed by 550 and highest Open interest at put side is at 480 strike. Some addition at call has side seen at 510.

Trading Range Of Bharti Airtel 

Now time to find out the trading range of the Bharti Airtel. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Bharti Airtel. Trading range seems to be 480 to 520.

1. Highest Call at 500. 

2. Highest Put at 480. 

1. Pivot Strike at 500.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles

 

Airtel Trend Cycles

Conclusion:

Bharti Airtel is near at very important resistance that is 500. If it sustains below 500 then some move towards 485 and 480 can be seen. And if able to breach the resistance at 500, we can see some move towards 520 and 550. 

This may take 6 to 7 trading days to happen. In last three day, Bharti Airtel has given two long and one long unwinding cycles. If this is followed by another long then we will see some up move else short can take it downward. All moves depend on 500. 500 strike is a make or break level for Bharti Airtel.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.

 You can check here Daily Nifty and Bank Nifty Analysis.

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