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BATAINDIA

1:3 Risk Reward opportunity on BATAINDIA. Wait for entryAs per my analysis, there is a strong Buy on BATAINDIA between 1350-1415 from the support zone. From the price action and MACD, I can infer that we will probably retest the interim support at 1468 and will fall further (H&S Shoulder pattern) to enter the demand zone mentioned above. My Trade on Futures: Lot Size: 550 Buy around 1415 (+1 lot) Add more at 1350 (+1 lot) Long Position Average: 1383 (for 2 lots) Stop Loss: 1310 (-73 points) Targets: 1620 (237 points), 1827 (444 points), Open (Please book your profit on the first target itself or trail your SL to 1550). Risk Reward: 1:3 Return on Capital Investment: 3,76,530 Max Loss: 80,300 (21.3%) Profit on the first target: 2,60,700 (69.24%) Time: 3-4 months Cost of Rollover: Just buy the farthest future. Likely cost: INR 3000 - 4000 Fundamental Analysis Increase in FII shareholding in Dec 2020 as against Sep 2020. Sales are likely to boost once the offices reopen and travel resume.
NSE:BATAINDIALong
by ShekharChatterjee
4
My prediction on Bata India has turned out to be a big gainer...On Apr 28th, I had posted on these columns to go long on Bata explaining my rationale in detail. Bata is going through a major correction since Mar'20 and has since been on what you call as a bear market rally until Jan'21. Since then, the prices touched a low of INR 1264 in Apr'21 when I posted this recommendation on trading view to go long. The retracement that ended in Jan'21 is only the first leg and another of the retracement remains to be completed. The decline from Jan'21 through Apr'21 had a completed a Fibonacci 0.618 correction of the bear market rally from Mar'20 until Jan'21. Now, that presented us with the remaining last leg of bear market rally from the Apr'21 lows, which should rise in waves with a potential target of INR 1900 levels. My prediction has so far turned out to be true. Since I had posted, Bata has bounced back from a bottom of INR 1261 levels towards Apr second half to INR 1550 levels, a steep incline in matter of weeks. Look for any pullbacks to build up a long position.
NSE:BATAINDIALong
by Yadunath