Airtel Flag Formation [Explosive Breakout Due]
Bharti Airtel has been in consolidation mode for weeks now, the big players are accumulating their long positions. Currently we're at the lower end of the flag channel ~560
Since we don't know how much longer it'll take for the upmove, we can use a BullPut Spread meantime to chow on Premium. A very strong support is present at 530
SELL AUG 550PE
BUY AUG 530PE
Max Profit : 16000
Max Loss : 20000
Major Brokerages have a BUY rating on Airtel with Short Term Targets ranging from 650-700. This is a great buy at current price levels for 2-3Yr Horizon
Since we don't know how much longer it'll take for the upmove, we can use a BullPut Spread meantime to chow on Premium. A very strong support is present at 530
SELL AUG 550PE
BUY AUG 530PE
Max Profit : 16000
Max Loss : 20000
Major Brokerages have a BUY rating on Airtel with Short Term Targets ranging from 650-700. This is a great buy at current price levels for 2-3Yr Horizon
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