errajesh19
Long

Bata Showing a Breakout

NSE:BATAINDIA   BATA INDIA
Bata after a long consolidation finally broke out with good volume and from here it will continue the uptrend. Go long from current Level @1340
Fundamental Analysis shows company has zero debt which is very great in this coronavirus crisis.Current company is restructuring its business model.

Only for study purpose.
Trade closed manually

Comments

I am still holding, have kept 1292 as stoploss, selling volume was not high so I dont expect this as a breakdown
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errajesh19 pksingh3232
@pksingh3232, yes, no doubt bata is a good stock. One can hold for short term trades.
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I was also expecting the same. But quite a reversal made.
Reply
@nikhun, Yes Nikhun, we hardly see any stock holding the current level in such fall. Thanks for engaging.
Reply
pksingh3232 errajesh19
@errajesh19, I meant as a trading bet, entered at 1350 when breakout was confirmed, do you think this was a false breakout?
Reply
errajesh19 pksingh3232
@pksingh3232, Yes, it was answered in the previous reply
Reply
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