BATAINDIA
BATA INDIA - 60MIN - POTENTIAL DROP ?Bata has been in a sideways channel on the daily timeframe for quite a while. The stock is approaching the 3rd touch of this channel at the top. The interesting thing about this is, it is approaching the top in a rising wedge formation giving us an idea of a potential dip in the stock. If the stock breaks this small rising wedge formation it has the ability for a downside of over 10%, so the Risk to Reward for traders in good enough.
Entry after the channel break - 1430
Stop - 1470
Target 1 - 1387
Target 2 - 1360
Target 3 - 1327
Disclaimer
This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.
BATAINDIA || SHORT SL 1373 as per you risk management
Sell below 1364
Targets 1355, 1350, 1345, 1340, 1335
BATA INDIA - 60MIN CHART - Bata Bata is in a correction phase after a strong move to the downside. It has developed a rising bear flag formation as seen in the chart above. Traders can look for selling opportunities after the trendline of this bear flag has been broken to the downside which is 1305.
Target - 1253
Will bulls come back for bata?Will bulls come back at the mentioned support zone or will have to say tata to bata?
Scrip has got major support zone at 1265 to 1280 zone, this zone can attract bulls for target 1324/1360/1390/1414
Sl will depend on how scrip moves from the zone, if fails to hold the zone, the setup will be failed and will look below to go long around 1216 levels, no shorting further.
If holds above the support zone marked on the chart , go long for mentioned targets, Safe traders can wait for candlestick confirmation on daily chart.
Regards,
Sharma Yogesh
BATAINDIABATAINDIA BASED UPON 1:2, 1:3,1:7 Risk Reward
POSITIONAL
BELOW 1440 TGT 3% 5% 10% SL 1.5%
INTRADAY
BELOW 1440 TGT 1% 2% 3% SL 0.5%
BATAINDIA BUY ABOVE 1451BATAINDIA (Bata India Ltd) BUY ABOVE 1451.
Continuous price rejection from trendline and today's closing slightly below the previous Resistance of 1451. If price moves above 1451 with price rejection at the lower level, it will be a good buying opportunity for a target of 1460, 1470 and 1475.
Possible Move DownBata seems to finished or its about to finish the Flat corrective structure , after a down move. This pattern I am looking at is one of the simplest and common patterns that occur. Bata could also be in a complex correction- however there is not enough data to see a complex correction. This could mean that Bata could continue to move down for a retest of the recent 60 min lows and probably go beyond to make a lower low. Near term bias is to the downside. Buy at the current levels is probably not the best idea.
#BATA bullish shark forming bounce is expected @in_tradingviewNSE:BATAINDIA
buy near PRZ 1300 - 1315
sl 1270
T 1335 1366 1395
BATAINDIA Short Setup Trade BATAINDIA is moving in an upward channel and formed a small double top on hourly and broke down the neckline ,
expected to touch the bottom of the trendline .
Can go short at CMP with stop loss of 1475 and target of 1420 .
Bata : -ve candlesticks & bearish rsi divergenceBATAINDIA 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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It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
