Here are my observations about Bharti Artl share's price action today. Please refer the 5-minute chart below. I have marked the open candle in the chart below which just kissed pivot 'p' on the upside. Observe that in the second half of last session price took support at weekly pivot 'S2' and bounced off that level to close higher strongly by the end. The 'S2' area is marked by a horizontal box in the chart below.
Today price opened Gap down with a bearish candle breaching below 'S2'. That in itself was a strong bearish signal. All the bullish expectations were nullified outright. Additionally, in 15-minute chart I could observe a Meta zone near 670 levels where current daily pivot 's2' falls in confluence.
In line with my expectation, price did reach 's2' and even
pierced downside to reach ‘s3’ pivot. Once price fell to 's3', price started
taking support at it. Bearish strength seemed to wane. A strong bullish
engulfing candle appeared signaling price stall. A little later a pullback
opportunity appeared which is marked in the chart above. It was really scary to
enter. The RSI although was taking support near 39-40 levels touched 36. I had
a trade box drawn to make a case study. The plan earned 5 points. The target
was fixed at 's2' pivot.