The stocks seems bullish and has formed Double bottom formation.
All levels are mentioned on chart for reference purpose, Do your analysis before trading.
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BATA INDIA
BUY ABOVE 1270
TARGETS: 1277, 1285, 1293
SELL ABOVE 1250
TARGETS: 1243, 1235, 1227
IF SUSTAIN ABOVE 1300 THEN FURTHER UPSIDE POSSIBLE
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Bata India has breakout above 1322 levels. We can buy it for short term target of 1340 to 1395. I will keep stop loss at 1275 (safer side)
Its my personal view, do check with financial advisor before any investment. My views may go wrong :)
Time frame - 1 Hr
As per my analysis stock is currently trading at very good price range that is 1270-1285 which is a strong demand zone for the stock.
You may definitely buy some shares if you are a price action based trader.
I personally like to take the trade at demand and supply zone trades for swings and I prefer to provide swing trades which are trading...
INTRADAY TRADE IN BATA
SHORT@1383
STOP@1398
TARGET-1@1365
TARGET-2@1355
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
bata gave a head and shoulder breakdown keep a stoploss of 1305
and target of 1180. entry point according to your risk appetite (in between 1265-1275 will be good )
Targets are aggressive around 18-20% around 1550 and 1560.
Would buy till 1200 with SL of 1150 on closing basis.
View will be changed to bearish once closes below 1150 on daily basis.
Buy Bata India at cmp for the target of 1340(short term target). As we can see the stock was in a accumulation mode for more than two weeks. Institutions were accumulating the stock at lower level. It seems like they have completed accumulating the stock and its ready for a big upmove. Good price action + Good volume .
