Bata Showing a Breakout Long

BATA INDIANSE

Description

⋅ Aug 29, 2020 6:22 PM

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

⋅ Aug 31, 2020 10:37 AM

Comments

pksingh3232

⋅ Aug 31, 2020 10:44 AM

I am still holding, have kept 1292 as stoploss, selling volume was not high so I dont expect this as a breakdown

errajesh19

⋅ Aug 31, 2020 11:35 AM

@pksingh3232, yes, no doubt bata is a good stock. One can hold for short term trades.

nikhun

⋅ Aug 31, 2020 6:12 AM

I was also expecting the same. But quite a reversal made.

errajesh19

⋅ Aug 31, 2020 10:32 AM

@nikhun, Yes Nikhun, we hardly see any stock holding the current level in such fall. Thanks for engaging.

pksingh3232

⋅ Aug 31, 2020 12:58 PM

@errajesh19, I meant as a trading bet, entered at 1350 when breakout was confirmed, do you think this was a false breakout?

errajesh19

⋅ Sep 1, 2020 7:48 AM

@pksingh3232, Yes, it was answered in the previous reply