NeeteshJain
Long

Bata India Trendline Breakout

NSE:BATAINDIA   BATA INDIA
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It is been observed that the price action breaks out from the downward trend line on hourly chart indication bullishness. The price action is moving up to 38.2% Fibonacci levels which is our Target 1 and once it breaks above it then it shall move further up to Target 2 of Fibonacci 50% levels.

Target 1: 510
Stoploss: 494
It was almost touch to target based on your previous call. Great !
How does it look like now in Bata? Looks like nice support at 470 and on upside 505 can be seen. Please comment.
+1 Reply
NeeteshJain dev_trader
Rightly said Dev, it is consolidating and now you can take sell initiative once it closes below 470 levels on daily chart or else take buy initiative once it closes above 488 levels. Regards
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