This month i have a few consumption names on my Radar and Bata India is one of them.
This is a simple triangle sort of a break out on the monthly/weekly time frames. It has been consolidating after the breakout from the last 4-5 weeks which is generally a sign that big players may be accumulating at these levels.
Trade triggers only on sustaining above 1632
Stoploss for a swing trade : 1550 ( Day close basis )
Targets would be 1700/1800
This is a simple triangle sort of a break out on the monthly/weekly time frames. It has been consolidating after the breakout from the last 4-5 weeks which is generally a sign that big players may be accumulating at these levels.
Trade triggers only on sustaining above 1632
Stoploss for a swing trade : 1550 ( Day close basis )
Targets would be 1700/1800
Trade active
Comment:
First Target of 1700 almost hit. made a high of 1699
Trade closed manually:
Trailing SL hit at 1700 today