After a sustained uptrend BataIndia
looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension
from the SPL
of 1075) looking set to reverse its trend. Its giving divergence as per stochastic
and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement
. Its good to short between 1153-1170 levels with a target of 1126/1114 with a stoploss of 1177 on closing basis. Its strongly advised to hedge the positions to reduce risk on your portfolio.