Airtel nearing key resistance momentum building for a breakout

15 באוג׳ 2024

✅ The stock has been moving in an upward channel since early 2024, consistently respecting the channel's trendlines. This long-standing trend channel acts as a reliable guide for future price movements.

✅ The 50-day EMA has provided strong support during recent pullbacks, reinforcing the stock's bullish momentum. The confluence of the 50 EMA and the lower trendline makes this a critical level to watch for any further upside.

✅ The stock is approaching the upper boundary of the channel near ₹1480. A breakout above this level could lead to accelerated upward momentum, pushing the stock to new highs.

✅ The RSI appears healthy and supportive of the bullish trend. Continuation of the trend would be confirmed if the RSI moves higher as the price approaches resistance.