F&O stock strategy: How to trade in Bharti Airtel and BEL?
Nifty was hovering near the 22,469 mark, gaining 65.50 points or 0.29%.
Commenting on the day’s action, Sameet Chavan, Head Research, Technical, and Derivative at Angel One said that the Indian equity market took a surprising turn from the day low, coinciding with the support levels and was propelled to an intraday high above 22,400 in what was a strong volatile session.
Technically Nifty has a support zone around 22,300 which will likely cushion the upcoming blips with the next support zone at 22,200-22,100, Chavan said as he put resistance at 22,500-22,600. He advises investors to remain wary of volatility in the middle of general elections and global development.
We spoke to analysts on how one should trade stocks that were in focus in the previous trading sessions based on derivative and technical data:
Analyst Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities told this to ETMarkets.
Bharti Airtel is on a verge of breakout
Bharti Airtel has a marked high of Rs 1354 on April 24, 2024, and thereafter, it has witnessed minor correction. During the period of consolidation, the volume activity was mostly below average, which indicates a routine decline after a sharp upside rally. The correction halted near the 20-day EMA level, and it coincides with the 50% Fibonacci retracement level of its prior upward move (Rs 1183-1354).
The stock has formed a strong base near the support zone and witnessed a smart rebound along with a relatively higher volume. Currently, the
