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Bharti Airtel

8 Aug 202002:10 PM

When i think of the Telecom business i think of it as a commodity business and so always reluctant to discuss Bharti, still given the wave count that it ended wave 2 circle and started a long term new trend in maybe wave 3 circle, qualifies it for a Value wave Investment discussion. So yes the consolidation ended in W-X-Y broadly. It could have gone on till Z but now we are out of the zone to new all time highs and the rally is impulsive [meaning a series of 5 wave rallies]. However the rise if overlapping so far and therefore I am forced to mark it as 1-2-1-2-1-2. So a seris of 3rd waves may kick in from here. If I calculate 3=1 from this weeks low for the last rally then we end up at 837. If I use the classical technique of the size of the pattern [rectangle in this case], and project the size higher above the breakout point we may get to 1285. The recent low was 543.40 spot/bse

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