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Bata India is commencing a steep rise.....Bata (India) Ltd is going through a longer term correction. It's going through wave (4) primary wave correction. Well, the interesting part is that it appears to have completed wave b of wave (b) in an a-b-c correction, which is underway since last Mar'20 (under Elliott wave model). Interestingly, wave b has just traced 0.618 of the wave a and now just starting to rise up on wave c. Wave c will be a brisk five way upward journey to somewhere in the region of INR 1900 levels, which is where the correction of (a) started.. Once Bata gets to that region, it will side big time in Wave (C) to complete Wave (4), but that's sometime away. Once the present wave c of wave (B) completes, the slide should commence, but that's some weeks or couple months away, so not to worry. Right now, Bata is on an interesting upward journey.
NSE:BATAINDIALong
by Yadunath
1
BATA INDIA LIMITEDBATA INDIA on charts looks really good. Let me summarize the reasons in few points just to let you know why it deserves attention. 1. It is currently in its 4th Wave 2. A wolfe Wave has been formed with in its 4th Wave. 3. It has rested at few resistance points of its 3rd Wave. It could be seen as Resistance acting as support. 4. Surprisingly the Resistance acting as support zone and the 0.618 Retracement level of Wave 3rd is the same. Proving it as a strong support zone. However reversal signs have not been seen yet. A closing above 1435 would confirm its reversal and activation of the wolfe wave as well. Once activated the first target would be 1546. Please avoid the stock till then.
NSE:BATAINDIA
by AdarshDey
Bata India- Weekly and Hourly Time Frames- A Complex Assessment 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 out to be barely simple, contrary to what it looked at the beginning. I was staring at a real complex wave pattern, which I haven't for a while and which doesn't seem to me like an Impulse (5th), but rather a complex B as we may still be in the 4th. This wave count suits such a wave personality the most, hence I'm tempted to go ahead with a slightly unconventional count. A word of CAUTION - Complex waves are best left on their own, but those who'd like to dare taking on such a wave, may venture with a tight stop loss. Note : This view would be invalidated if the price crosses 1682 (R1), 1755 (61.8% Fib ext) and 1895 (R2) with force. Cheers !!
NSE:BATAINDIAShort
by VIISHAL
Buy Bata IndiaBuy 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 consolidating with very low volume ...it may be a bullish sign as per my analysis...+ Noticable thing is whenever green candle is formed, volume is rising and in red candle, volume is decreasing...
NSE:BATAINDIALong
by prashantmedge