Vikalpbothara

BATA is a highly overvalued

Short
NSE:BATAINDIA   BATA INDIA
At 1119 the RSI was at 83-84 & now at 1276 the RSI is around 75 shows a clear sign of overvaluation & also steeper the climb faster is the downfall. Short @ 1280-1300 & for a T1 of 1080 & T2 of 850.
Trade closed manually: I was completely wrong about my interpretaion in the above idea. I forgot about the most basic underlying of Bata being a consumer stock.
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