BHARTI AIRTEL – BHARTIARTL Elliott Wave Analysis (1D Chart)
Function: Larger Degree Trend Higher (Intermediate degree, orange)
Mode: Motive
Structure: Impulse
Position: Minute Wave ((iii)) Navy
Details: Minute Wave ((iii)) Navy appears complete near the 1650-55 range. If correct, anticipate a corrective Wave ((iv)) Navy before the next upward move. Alternatively, Wave 5 Grey of Intermediate (5) may now be complete.
Invalidation point: 1423
Bharti Airtel Elliott Wave Technical Analysis
Bharti Airtel Daily Chart Technical Analysis and Potential Elliott Wave Counts:
The Bharti Airtel daily chart recorded a new high around the 1600-50 range on September 13, 2024. This high could signify the completion of Minute Wave ((iii)) Navy, as bearish pressure may push prices lower in the near term. Watch for support near the 1500-50 range before a potential final upward push.
Bharti Airtel has been in a steady uptrend since August 2023, after hitting lows around the 850 mark, which completed Intermediate Wave (4) Orange. Minor Wave 4 finished around 1225 on June 04, 2024, with Minor Wave 5 progressing since then.
In the near term, the stock may pull back towards the 1500-50 range before attempting to reach new highs above 1650, completing Minor Wave 5 Grey. Alternatively, Minor Wave 5 might have completed around the recent high (1600-50), indicating that prices may soon resume their downward trajectory.
BHARTI AIRTEL – BHARTIARTL (4H Chart) Elliott Wave Analysis
Function: Larger Degree Trend Higher (Intermediate degree, orange)
Mode: Motive
Structure: Impulse
Position: Minute Wave ((iii)) Navy
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey appears complete near the 1650-55 range. If correct, expect a corrective Wave ((iv)) Navy before the next upward move. Alternatively, Wave 5 Grey of Intermediate (5) may now be complete.
Invalidation point: 1423
Bharti Airtel 4H Chart Technical Analysis and Potential Elliott Wave Counts:
The Bharti Airtel 4H chart outlines the sub-waves within Minor Wave 5 Grey. Minute Wave ((ii)) formed a potential triangle pattern, while Wave ((iii)) seems complete around 1650. If this is accurate, expect bearish control in the near term to form Minute Wave ((iv)).
Technical Analyst: Harsh Japee
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Conclusion:
Bharti Airtel could decline to form Minute Wave ((iv)) Navy near the 1500-50 range before resuming its upward trend toward 1650, as bulls prepare for the final push.