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.
Will enter tomorrow with 2 lots in April Future. Took a long long two months for this trade but worth the patience.
ShekharChatterjee
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Press the forward button to see the downtrend. The double bounce was from fictional support and a breakdown will likely activate our trade. Testing patience just for the entry.
ShekharChatterjee
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The stock barely went flat on a bullish day. We will likely be able to enter at our levels with a good small SL. Being patient here is the key. Could be a really good opportunity if we are patient.
ShekharChatterjee
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Still waiting on neckline breakdown. Have created an order on futures as per the spit prices listed above. Either we get in on the trade with a good RR or we don't enter at all. There's always a market tomorrow.