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Airtel Shares - Price action and Market structure is Changing

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From last couple of Days Airtel shares rallied consistently. Share prices bounced back from375 to 430with decent momentum. Recent Price action might indicate the changing structure and market behaviour. The sharp upswing that we are witnessing on the chart is posing a threat for the earlier downtrend.Price action analysison Daily chart of Bharti Airtel clearly demonstrates the scenario.

Airtel Share prices reflect changing Price action and Market behavior in the downtrend

Since the beginning of this year, Sentiment was Bearish. Share prices tumbled from550 to 370in a period of 4 months. The downtrend started at the Breakout in the end of Jan. After consolidating for some time, prices broke out on the downside from thesupport zone at 500. That marked the beginning of Downtrend. In the month of March, overall trading volume started to decline. Price behaviour radically changed where both upswings and downswings decreased in size. This was a sign of reducing liquidity and market participation rate. From the perspective ofRichard wyckoff this is a failure of selling pressure

After crossing 400, bears lost the momentum and Share prices bounced back. This sharp upside movement from 375 to 430 coincided with positive rumors about Bharti Infratel merger with Indus towers. Will this Price action continues further? Can it turn into cataclysm for Trend Reversal ?The keyresistance zoneis at 440 450. Prices should clearly break the resistance zone to trend higher. In case if we see more positive news and rumors from Airtel, then Price action might break the key resistance zone. Traders should keep an eye onFundamental events and rumorsfrom Airtel, also must watch the Price action in Daily chart.

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Balaji is a Trader, Investor and Self published Blogger. He wrties frequently on his website Balaji is specialised in applying systematic Price action trading strategies and Global Macro techniques on financial markets such as Equities, Dervatives, Futures and Bonds. He is well versed on both International and domestic markets and has trading experience of more than 8 years.  
As a trader his core purpose is to generate superior risk adjusted returns on consistent basis by applying Flexible risk managment combined with a Postive expectancy of Price action strategies. He writes passionately about Technical analysis, Trading strategies, Price Action setups and Global macro events. 
Apart from trading and Blogging, Balaji also mentors aspiring traders, Investors on becoming succesful in highly competative financial markets. He offers permium trading course on which he covers Price action trading methods, Institutional trading strategies and Macro trading.

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