Analysis of Footwear / Leather Stocks

Synopsis: The multiple footwear stock was analysed as weekly price movement is quite significant with record volume. Most of the stock bounced from support level and expected return will range from 20-40%.

BATA – The price movement in channel, from support level, bullish breakout candle formed with record volume. Price above 20 & 50 ema and 200 ema (Rs 1618) may act as short term resistance. Target 18%, Stop Loss 5%

KHADIM – The stock is range bound, from support level, the price recovered with significant volume. Price above 20, 50 and 200 ema.
Target 40 %, Stop Loss below 200 ema

SREELEATHERS – The price movement is upward channel, from support level, price bounced with good weekly volume. Price above 20, 50 and 200 ema.
Target 40 %, Stop Loss 10%

SUPERHOUSE LTD – The neckline act as support. Price movement with record volume and stock is above key moving average of 20, 50 and 200.
Target 30%, Stop Loss below Rs 250

Note : For Campus Activewear and Mirza International analysis, refer the below link.

Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.

Thanks
-AJ

Comment:

For KHADIM and SREELEATHERS, ema 200 will be a key resistance & support level respectively.

Comment:

Update:
Bata - Higher Low , set up is positive

Khadim - Resistance at 200 ema

Sreeleathers - Resistance at 200 ema

Superhouse - Inside candle consolidation, key support around Rs 230.

Comment:

Weekly Update:

Bata |Khadim's |Sreeleathers - Resistance at 200 ema

Super house - Consolidation Phase

Order cancelled:

Bata & Khadim's - rejection from 200 ema
Super house - breakdown and below 200 ema
Sreeleathers - negative set up

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