Technical Chart Check:Bharti Airtel,TCS and TELCO

By | November 23, 2011

I simply cut my losses and by doing so kept them small. I’ve had my share of bad decisions in my trading career and keeping losses small in order to avoid huge losses is the toughest part.

Why is that so? From a psychological point of view nobody wants to sell at a loss as in most situations in life making mistakes and admitting them is associated with being a loser. That’s why most people prefer sticking to a losing position. They don’t want to be labeled a loser. So they start hoping their position will turn around and end up being a huge winner. The stock then keeps tanking. Then they hope they will be able to sell for a break even. The stock then goes down even more. That’s when being objective and balanced isn’t possible anymore. Losses have become huge and they are trapped.

 

Bharti Airtel


Bharti airtel is trading in a perfect channel taking support and resistance at upper and lower end of trendline.Break of 372 can lead airtel back to 343 levels.

Buy above 380 Tgt 384,388 and 391

Sell below 372 TGT 367,363.8 and 360

TCS

TCS took resistance 1095 which is trendline resistance as mentioned in above chart.

Sell below 1057 Tgt 1039,1022 and 1000

Buy above 1095 Tgt 1115 and 1136

Tata Motors

Tata Motors is following classical TA taking support at lower end of trendline and resistance at upper end. Stock made a move away from formation of lower highs.

Buy above 175.2 Tgt 177.4,182 and 185.5

Sell below 170.2 TGt 168,165 and 162

3 thoughts on “Technical Chart Check:Bharti Airtel,TCS and TELCO

  1. Bramesh Post author

    Dear Sameer,

    Try to trade on a System which gives you entery,exit and SL level and use Options analysis as observation which give confidence to the trade. Never rely on this data alone.

    Rgds,
    Bramesh

  2. anil

    hi…u r doing great job….i just want to know what’s you view on Petronet LNG and sintex for very short term view..

  3. Sameer

    I have been tracking options/futures for last six month. Its difficult to interpret f&o data as one observation can have multiple interpretation. Its good that for last two days u tried to analysys f&o data. I hacve one question. I have observed for last six month that Nifty(as well as some high F&O volume stocks like TISCO,TELCO,ICICIBANK etc) normally makes very volatiles moves(like 1-1.5% drop OR 1-1.5% rise in less than 5 minutes) in afternoon on expiry day. Looking at f&o data how is your interpreattion for tommorow expiry day. Which sudden move(up/down) nifty(as high f&o volume stocks) can make tommorows afternoon(when FII start covering their month long positions). As per my observation, these are totally very strong technical moves and has nothing to do with europe market opening.

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