Bata India Long
Updated
Points considered:
Bata India is trading in a downward channel from the November 2021 and is at the lower edge of channel which can act as support.
RSI is in oversold range and cross-over can be expected in near time.
MACD histograms indicating weakness in bearish trend.
Long position can be opened with SL at the channel support.
Increased volume seen in recent days.
Bata India is trading in a downward channel from the November 2021 and is at the lower edge of channel which can act as support.
RSI is in oversold range and cross-over can be expected in near time.
MACD histograms indicating weakness in bearish trend.
Long position can be opened with SL at the channel support.
Increased volume seen in recent days.
Note
Currently trading in a accumulation zone, breakout about 1430 levels can lead a rally towards 1457 & 1620 levels.s3.tradingview.com/snapshots/1/1o2MYfKS.png
Trade closed: target reached
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