BATAINDIA has made -ve 3Star Candle Stick Patter with Bearish RSI Divergence, seem like after burning many hands its thinking to go short.
Entry : Strong Closing Below Red Line
Stoploss : 1430 (Closing Basis)
Basic Target: 1330
if you have any queries regarding above idea or any other stock feel free to D'M
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Bata is looking so ripe for short, depending upon market conditions I would like to be on sell side unless I see a strong downward rejection.
dark green lines would be the target incase nifty fails to hold 10000 levels in coming months.
Trade accordingly and don't forget to share your opinion in the comments section.
Wolfe Wave formed at the top area could offer a good short trade with reasonable Risk to Reward ratio. One can short the stock below 1090 and look for a targt of 980.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Their is a possibility that bata might bounce from area marked with white line but with over all negative sentiment I suspect it would be able to hold at this price.
RED LINE IS THE STOPLOSS AND GREEN ARE THE TARGETS.
DO SHARE YOUR OPINION IN THE COMMENT.