Bataindialong
SWING TRADE IDEA - BATA INDIASymbol - BATAINDIA
BATAINDIA is currently trading at 1340
1280 - 1350 is a good support area for BATAINDIA.
I'm seeing a trading opportunity on buy side.
Buying BATAINDIA Futures at CMP 1340
I will be adding more if 1300 comes & hold with 1280 SL.
Targets I'm expecting are 1435 - 1525 & beyond.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
BATAINDIAENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
BATAINDIA: Buy for Long TermThe stock bounced back from it Fibonacci retracement of more than 0.618 of 1370.45 as of 20th March 2023, from its all time high of 2182.75 reached on 16th Nov 2021, falling more than 37% from it all time high.
The stock had bounced to 1771.45 on 8th Aug 2023 and back to a low of 1530 on 9th Nov 2023.
Since then the stock has broken out of its downward trend line on the daily chart on 15th Nov 2023 with more volumes than the previous day and is now trading at 1603.06 as on 16th Nov 2023.
INFERENCE:
The Stock can be bought at these levels and accumulated if it drops further with a STOP LOSS around 1550 levels.
The stock looks good for a decent capital appreciation in the long run.
TARGET: We can expect a medium term (4 to 6Months) target of around 1900/-
The stock should show strength once it crosses the weekly downward trend line. The company has been paying dividends regularly but the yield is less than 1%
BATA INDIA LTDLOOKS GOOD FOR LONG POSITION WITH A SL OF 1370
Reasons:
- 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
BATAINDIA 15 min chartHello Everyone,
BATAINDIA on 15 min chart inside traded 15 min white huge candle,its mean sellers power decresed and buyers try push up,
* BATAINDIA on Daily chart continue fall
this stock select only intrady purpose and swing trade
if break 1442 levels then we will see next levels 1450,1465
but if break last 15 min candle Low then plan to sell side 1428 support zone
*those levels only educational purpose, we not provided tips and calls.
***LEARN AND EARN***
Bata india to take long entrySwing bata India after the BO of TL near the support level above 1825. All important levels are given on the charts. Stock is forming a bullish W pattern.RSI is also ready to cross 60 levels again the bullish signal. So this is the high probability trade setup. This is for your educational purpose only.
Bata Chart Analysis !!📈 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
RR- 1:2
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 Your Financial Advisor Before Taking Any Decision On This Analysis.
BATA INDIA: IMPULSIVE RISETrading strategy:
Buy near 1995 , keep SL of 1950 and look for the target of 2050/2080. 2080 is the level where wave 5 = wave 1
Theory :
MOTIVE WAVES: : Motive waves are progressive waves which shows the trend is going to progress & are having a five-wave structure. While the corrective waves are a halt to progression and consists of a three-wave structure or various kind of its forms as a pattern.
Motive wave and its component waves, i.e., waves 1, 3 and 5 . Their structures are called “motive” because they contribute to the progression of the trend. Whereas corrective wave are the interruptions, which include waves 2 and 4. Their structures are called “corrective” because each of them are a reaction on the opposite side of the main trend.
There are some characteristics through which we can identify the impulsive wave. Every impulse wave follows some set of rules which we call them as SUTRAS for wave analysis. They are –
1. Wave 2 cannot move beyond the starting level of the wave 1. That means wave 2 never retrace 100 % of the wave 1.
2. Wave 3 is never the shortest one among the wave 1,3 & 5. It does not mean that it has to be the longest one.
3. Wave 4 never intervene into the price territory of the wave 1.