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Bata India - Looks good for a short from the channel

BATA INDIA (NSE:BATAINDIA)  
IbankerSid Updated   
NSE:BATAINDIA   BATA INDIA
Trend Analysis Chart Patterns positional swingtrading
15
7
trendanalysis chartpattern positional swingtrading
Bata has strong resistances on the upside now. Trendline resistance, Fibonacci (at 1308) and 50SMA. Thereby a short view on BATA. Initial targets on the downside: 1290/1278.

Long view on the same: Above 1310, Bata can a strong upmove as well.
Comment:
Gap up opening in the market and Bata ruled out the short. Made a high of 1325 today. Gave good instances to trade FUT on this today
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