BHARTI AIRTEL (430.05)
A TRIANGLE BREAKOUT OR CONSOLIDATION...

I think this stock is about to breakout the price of 432.50. And 432.50 is the all time high for this stock. To complete the triangle formation, still it got the time. The most important thing in the chart is, it made Double Top formation. In May 04 it registered all time high of 432.5 and now in Sept 07 it made 432.40. For me if i apply the Double Top pattern i smell i see some retrace will come in the form to continue the triangle formation. As i said the downside for this stock is very limited. Its trading above all moving averages. The strong support for this stock is at 382-377. For me if it dont penetrate the 432.50, then it can retest the 200dma of 377 from there it'll move into unknown territory. Who know may be well beyond 500 levels. In daily RSI now heading towards overbought region. CCI is pretty strong as well ROC too. I'm very bullish on this stock. One can buy this stock for Medium to Long Term for the target of Beyond 500 with the stop loss of 382. The support comes for this stocks at 425-419-415-404-394-387/385-382-377. The breakout price of 432.5, i put my targets at 461-479-494-508-528 and 555.