saket_parab

Beware of Longs in Bata

Short
NSE:BATAINDIA   BATA INDIA
Bata is standing at an important support, I see a head with double shoulders. On breaking on 1230, Bata might go way too down.
Today's (14th july 2020) candle is a bullish candle and Bata might give one final try to break its previous high of around 1340, which would act as a resistance now. I personally think the chances of a sustained upside are very less.
EMA21 has crossed EMA5 fron the top, which is a bearish crossover
Do not hurry up in building longs.
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