TradingView
udhaya0000
May 24, 2023 6:52 AM

16% correction in BataIndia? Short

BATA INDIANSE

Description

Looks like there are chances for Bata India to correct 16% from here i.e to test 1278 level this year as per fib level, lets keep an eye on this stock

Comment

Comment

Currently facing resistance in 10 months and 40months EMA, more chances to take support in 96 months EMA (i.e 8 years moving average)

Comment



1610 - 1620 should react as a resistance if it fails, need to close this and need to work on this analysis

Comment

Today's rejection gives some hope on our resistance, lets how it reacts next week

Trade closed manually

its time to review my analysis on this stock

Trade active

Comment

going good, lets see

Comment

130 more to go!

Comment

more fall might happen, lets see

Comment

looks like 880 might be possible, lets see

Comment

1.3% down this week

Comment

50 more to go!

Comment

1396 might be the resistance, lets see
Comments
Xyz102sam
It closed above 1620 levels, seems like it will reach 1800+ targets
udhaya0000
@Sunny102s, 1860 possible it seems
FrankzMD
at end of october 2022 , 50 day crossed 200 day EMA downwards. since then 18 day EMA was below 50 day and price was below 18 days till april 3rd week 2023. after that price crossed both 18,50 EMA also 18 day crossed 50 EMA upwards establish a contextual uptrend . throughout the upward journey , price was suppoted by 18 day EMA till date and it is not breached yet . tecnically BATA turned bullish a end of april .. also MACDS truned bullish at end of march 2023 itself ..
udhaya0000
@FrankzMD, interesting... thanks for sharing!
Sonia-Singh
Why do expecting a big correction in this stock sir what are the main reason
udhaya0000
@SONIA123456, it might be too early to say about this correction but I observed few points 1. doji on weekly, 2. 1590 there is resistance, 3. next support I believe it is placed near 1300 level. since this stock is correcting from the last few months, I believe it will respect the resistance, and also I observe fib retracement which mostly works, lets hope for the best. BTW thanks for commenting!
udhaya0000
@SONIA123456, please check my above comment
Sonia-Singh
@udhayakumars, yes sir i checked, thanks for revert
More