1:3 Risk Reward opportunity on BATAINDIA. Wait for entry
As per my analysis, there is a strong Buy on BATAINDIA between 1350-1415 from the support zone. From the price action and MACD, I can infer that we will probably retest the interim support at 1468 and will fall further (H&S Shoulder pattern) to enter the demand zone mentioned above.
My Trade on Futures:
Lot Size: 550
Buy around 1415 (+1 lot)
Add more at 1350 (+1 lot)
Long Position Average: 1383 (for 2 lots)
Stop Loss: 1310 (-73 points)
Targets:
1620 (237 points), 1827 (444 points), Open (Please book your profit on the first target itself or trail your SL to 1550).
Risk Reward: 1:3
Return on Capital
Investment: 3,76,530
Max Loss: 80,300 (21.3%)
Profit on the first target: 2,60,700 (69.24%)
Time: 3-4 months
Cost of Rollover: Just buy the farthest future. Likely cost: INR 3000 - 4000
Fundamental Analysis
Increase in FII shareholding in Dec 2020 as against Sep 2020. Sales are likely to boost once the offices reopen and travel resume.
My Trade on Futures:
Lot Size: 550
Buy around 1415 (+1 lot)
Add more at 1350 (+1 lot)
Long Position Average: 1383 (for 2 lots)
Stop Loss: 1310 (-73 points)
Targets:
1620 (237 points), 1827 (444 points), Open (Please book your profit on the first target itself or trail your SL to 1550).
Risk Reward: 1:3
Return on Capital
Investment: 3,76,530
Max Loss: 80,300 (21.3%)
Profit on the first target: 2,60,700 (69.24%)
Time: 3-4 months
Cost of Rollover: Just buy the farthest future. Likely cost: INR 3000 - 4000
Fundamental Analysis
Increase in FII shareholding in Dec 2020 as against Sep 2020. Sales are likely to boost once the offices reopen and travel resume.
Trade closed: stop reached:
SL hit but will likely follow the expected trend.
