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BATA INDIA LTD
Short

Bata India: Has the trend bent?

By BharatJhunjhunwala
The stock was into dominant trend up, last few months the stock hasn’t displayed any zeal to move up. Now at a high intensity resistance level, the price consolidated and formed a negative candle pattern. The RSI is into neutral zones creating bearish signs. Macd is into bearish zone. The stock is expected to correct to 1620-1540 levels where it may find support. Above 1735 the bearish analysis is negated.
BANKNIFTYBATAINDIAbharatjhunjhunwalaChart PatternsichimokukinkohyoTechnical IndicatorsMoving Average Convergence / Divergence (MACD)NIFTYprorsiRelative Strength Index (RSI)Technical AnalysisTrend Analysis
BharatJhunjhunwala
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
prorsi.com
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