BATAINDIA short Idea#Freshview keep it on watchlist
BATAINDIA gave closing below support region. Breaking down 1430 Level can be weakness
BATAINDIA
Continued - Bata India Analysis Note : This is Chart 2 (Hourly Time frame) and is a part of the previous Bata India analysis that I just published.
Please study both charts before taking any decision.
Cheers !!
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 !!
BATA INDIA : polarity reversalPrevious resistance acting as a support. Buy BATA INDIA if it holds the level of 1450 and hold for the upside targets of 1620/1710 .
Make an exit whenever prices starts falling below the level of 1400.
Head and Shoulders in BataBata has clearly formed a Head and Shoulders pattern. It is also present at the major support which also seems to be the neckline of the head and shoulders pattern. Any 1day candle close below 1450 can trigger a sell signal with target of 1350.
Head and Shoulder Pattern in BATAINDIANow it looks exhausted at top by making Head And Shoulder Pattern. 1480-1460 is the Neckline Zone for H&S. Time to be careful for the Shareholders Of BataIndia.
BATAINDIA - Tuesday TradeStock has formed Head and Shoulders on higher Time frames. Sell below 1452 for targets of 1415, 1388, 1300 in swing
For Intraday sell below today's low for 1.5%-2% target
BATAINDIA, DAILY CHARTBataindia
Head and shoulder pattern Breakdown
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
BATA : EMA cross downward12EMA reducing distance with 50EMA, Closing funnel ,
12EMA may likely cross 50EMA downward if prices stay lower during week.
Retest of 20EMA, 50EMA failed on day close basis.
Short entry at confluence of flattened 50EMA and retest of 0.618 Fibo, gives double confirmation.
Price direction on lower side has higher probability.
BATAINDIA - Tuesday TradeBata India looks good for tomorrow if sustains above Trendline - Buy above 1598
Stock might head higher towards 1560+ levels NSE:BATAINDIA
Above 1530 the stock can head higher towards 1545/1560/1580 levels as long as 1508 levels is not breached.
All ideas shared are for educational purpose only.
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...
Short BataIf sustains below 1610 for the targets of 1575 and 1560 until 1635 is saved on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
BataBuy bata above 1620 trgt 1689 , 1765 , 1803 in 2 -3 months
wait for weekly strong candle
Stop loss 1515
