Telecom sector stocks have been making some noise for the last couple of weeks. Earlier I have written about Tata Teleservices. Now this stock is getting into the spotlight.
Multiple block deals and stake sales are taking place in this stock. Volume jumped by 200 times on the stock.
If you’ve guessed it right, we are talking about Bharti Airtel Ltd, one of the leading Telecom companies in the country.
Big Investors and Traders are focusing on this right now, to capture event-driven trading opportunities.
Take a look at the Price Action Outlook in the 5h time frame
Bharti Airtel – Price Action Trading Analysis on 5h Chart
From the last 2 to 3 months, Bharti Airtel share prices have been in the Mark Up phase, aka the short term Uptrend. It was a good stock for trend traders.
But right now, we can notice a huge increase in the trading volume, which indicates large orders and transactions going behind the scenes.
The recent changes in the volume and Price action are because of an on-going insider block trades between the promoter groups such as the Mittal Family, Bharti Telecom and Singapore-based company Singtel.
Keep an eye on the Price Action and take trade accordingly. If you would like to learn more about Price Action Trading and how I analysed the stock, checkout my video given below and take a look at my website.
What’s your take on Airtel? Can we expect a selloff in the short term? Or do you think Prices will continue to rally further? Share your thoughts in comments.
