BATAINDIA
Bata India: Has the trend bent?The stock was into dominant trend up, last few months the stock hasn’t displayed any zeal to move up. Now at a high intensity resistance level, the price consolidated and formed a negative candle pattern. The RSI is into neutral zones creating bearish signs. Macd is into bearish zone. The stock is expected to correct to 1620-1540 levels where it may find support. Above 1735 the bearish analysis is negated.
NSE:BATAINDIA is sitting on a critical trendline supportNSE:BATAINDIA is basically on a trendline taking support at the moment that extends from June 2019 highs to today. This is a critical prize zone for BATAINDIA . Any closes below the trendline on a daily basis will signal a Sell/Short and a strong bounce will a candlestick pattern like a bullish engulfing will signal a low risk Buy with the Stop loss being below the swing low.
Bata India is at an important level.BATA INDIA: The stock is in a dominant trend up though we notice there is a momentum loss which is leading a correction. Now the stock is just at the SPAN support, a good price action (bullish candle) is required here to assert the trend else it may lead to a deeper correction till 1530 levels! We can notice a TK cross. The RSI took resistance at the bear extreme levels and crippled into neutral zone. MACD is also neutral as of now.
Breakout & last kiss in BATA IndiaBreakout in BATA India on daily time frame. There was breakout and then last kiss and moved up.
Next Targets could be 1553, 1579, 1606, 1644
Before achieving these targets it might retrace to previous supports (marked on the chart), then there would good buying opportunities.