LOOKS GOOD FOR LONG POSITION WITH A SL OF 1370
- Wolfe Wave formation
- Wave 5 Taking immense support at Golden ratio of 1.618 ( Retracement of Wave 4 )
- Exaggerated Divergence of RSI
- ADX Reversing Downside from 44
- Risk to Reward Ratio is Fantastic
Target would be 1483 and above it will lead to 1611
CHART & ANALYSIS
Adarsh Kumar Dey
When it comes to rewarding it's shareholder over the period of years and clean management then Bata is one of the top companies in Indian Stock Markets.
And if you get such company at reasonable price levels backed by Technicals then it's no less than it's no less than a Gem...Add some BataIndia here adn Some at Lower Levels for new highs of ~2600
Bata India its at critical point of it started trading below 1757 then will be a good candidate for short.
You can play for upside with strict stop loss, however majorly the trend is downside
Time Frame : Daily
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do...
Bata India Ltd (BATA) strong Breakout at 1 hr chart and daily chart pattern. Time to go for long in bata India. Buy above current level 1921.
Time to accumulate good volume and momentum today. Thank you.
BATAINDIA has seen Trendline breakout on 4-hourly time Frame Chart and Looks very bullish, I am Looking to Buy BATAINDIA in Cash Segment around Current Price 1880- 1883 For the Targets of 2000/2100 And Stoploss 1770 (Time Horizon 5-7 Days)
📈 BATA India 📉
This Stock Broke out from a Downtrending Trendline Zone after testing three times with a strong green candle.
Bias - Long
Target - 2073, 2230
SL - 1901
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult...
Bata India Ltd - 15.03.2022
The stock is trading @ 1836 levels
The prices are above EMA
There is a HAMMER @ SUPPORT Level
Let the prices go above 1881, one can initiate a BUY position with support @ 1821
watch out for the price action
1) On 1day time frame, it closed just above 200DMA and critical level of 1800 level.
From here we can see good move on either side.
Please refer below chart : 1hr Time Frame.
2) On 15min time frame, there is a double bottom formation.
Please refer below chart : 15min Time Frame.
Also we can see resistance channel....
Analysis of Bata India on the basis of Ratio chart and Trendline
Target - 2900 (Top of trendline)
Analysis on the basis of Ratio chart shows reversal in strength of Bataindia w.r.t to NIFTY. Reversal in strength w.r.t NIFTY and channel breakout are strong signals to buy.
RSI - the RSI continuously staying above 60 further shows momentum in stocks.
1) On daily time frame it has made cup and handle pattern breakout and sustaining it.
Please refer below chart.
2) On Daily time frame it has been taking support from trendline.
Please refer below chart.
Trade Setup for Date 30-08-2021:
1) Don't Jump in to trade at the...