#Bataindia watchlist stock for potential short term breakout
Updated
#bataindia watchlist stock for potential short term breakout
all timeframes are bullish in momentum and trend.
at a 2 year old major resistance zone and daily volume spikes seen that could be attempting to breakout.
momentum showing a bounce from the support on daily after range shifted from sideways to bullish
rounding bottom on daily seen.earlier june attempt failed and so entry with tight slop loss and only after green close above resistance.
trade for short swing /short term since another resistance exit 100-200 points away
all timeframes are bullish in momentum and trend.
at a 2 year old major resistance zone and daily volume spikes seen that could be attempting to breakout.
momentum showing a bounce from the support on daily after range shifted from sideways to bullish
rounding bottom on daily seen.earlier june attempt failed and so entry with tight slop loss and only after green close above resistance.
trade for short swing /short term since another resistance exit 100-200 points away
Note
#bata #bataindia decent move a green close above neckline.few things to be aware is another resistance above at 1897 and also rounding are more effective on weekly/monthly and also could retrace to form cupnhandle etc and so make more sense hold positional swings with tight stops
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.