Bata has clearly formed a Head and Shoulders pattern. It is also present at the major support which also seems to be the neckline of the head and shoulders pattern. Any 1day candle close below 1450 can trigger a sell signal with target of 1350.
Note : This is Chart 2 (Hourly Time frame) and is a part of the previous Bata India analysis that I just published.
Please study both charts before taking any decision.
Cheers !!
TAKE MY WORD FOR IT - THERE MAY BE LESS TO MAKE OUT HERE, BUT PLENTY TO LEARN IN THIS ONE
Was talking to an expert who told me that Bata India is a "Long", so I pulled up the charts. Here's what I found that stunned me.
Initially, all looked hunky-dory on the Weekly chart (refer 1st chart), but when I moved on to the Hourly (refer 2nd chart), the story turned...
Buy Bata at Cmp (1615 to 1625) Stoploss of 1560 Target 1760
Its a 4 Hour timeframe so it may take a time to move...it will be medium Term Bet.
Good Risk to reward Trade.
Study: Stock is Trading Near Support Area. Previously Strong Breakout Given from 1610 level with Big Volume..and now Stock is Consolidating in Traingle Shape or Pennant Pattern. +
Stock is...
If sustains below 1610 for the targets of 1575 and 1560 until 1635 is saved on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
I hope you can now see how BATAINDIA represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be...
Bata gave a good move with vol in last session
However a safe player is advised to buy above 1470 for the target 1600 sl to maintain at 1410
Risky player can buy if high (1445) sustains for good returns wsl 1360 (200dma)
Note : This idea is for only learning purpose
BATA INDIA BUY ABOVE 1233-1234
TARGET: 1239, 1245, 1251
Condition: If sustain above 1233-1234 on hourly candle only
If trade and sustain above 1250 then 1280 possible; Sell below 1200 for target of 1150
Posting for Educational purpose only
If my analysis appears OK then please LIKE, FOLLOW and SHARE to get more future ideas
BATA INDIA
BUY ABOVE 1270
TARGETS: 1277, 1285, 1293
SELL ABOVE 1250
TARGETS: 1243, 1235, 1227
IF SUSTAIN ABOVE 1300 THEN FURTHER UPSIDE POSSIBLE
Posting for Educational purpose only
If my analysis appears OK then please LIKE, FOLLOW and SHARE to get more future ideas
