Airtel - 200EMA Support
Nice little super tight rangebound consolidation happening in Airtel. The 200EMA has acted like a strong support after the gapdown.
Post such tight consolidation the stock can move powerfully in either side. I am slightly biased to the upside but keeping both plays open here is the trade on both sides..
With ARPU's increasing and vodafone loosing customers it leaves telecom as a 2 player market..both will become cashcows because there will be no reason to compete beyond a point.
Long above 781 with a stoploss below 760.. (If it moves to the upside then first the gapfill needs to complete and then if it continues to move the trend could change)
Short below 750 with a stoploss above 770.. (The 200EMA has been a strong support and if that breaks it could become a strong resistance)
Post such tight consolidation the stock can move powerfully in either side. I am slightly biased to the upside but keeping both plays open here is the trade on both sides..
With ARPU's increasing and vodafone loosing customers it leaves telecom as a 2 player market..both will become cashcows because there will be no reason to compete beyond a point.
Long above 781 with a stoploss below 760.. (If it moves to the upside then first the gapfill needs to complete and then if it continues to move the trend could change)
Short below 750 with a stoploss above 770.. (The 200EMA has been a strong support and if that breaks it could become a strong resistance)
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