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BATA INDIA LTD.

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BATAINDIA trade ideas

Indicator Free Analysis using Simple Price Action - A Case StudyThis is the monthly chart of BATA India. In this we can see that there was a bull run from December 2016 to March 2020. It came down slowly to form a falling wedge pattern and also a double bottom pattern from Mar 2020 to June 2021. It gave a good breakout of the falling wedge or flag pattern in July 2021 and the momentum continued. Here we have not used any indicators and are simply following price action. According to the price action, a big resistance is at 1800 levels where the stock may halt before giving breakout. How to trade the stock? 1. After getting a confirmation that the stock has broken out of a bullish flag pattern, we could have taken a trade at 1600 levels with a SL of 1200 and a target of 2200-2400 2. At present too, we can buy the stock between the levels of 1700-1800 with the same SL of 1200 and a target of 2400. How was the target calculated? The total distance covered by from the highest point of the flag ( approx rs 1800) to the lowest point of the flag (approx Rs 1200) should be calculated i.e. Rs 600. Now on giving breakout, the stock should ideally move Rs 600 from the highest point of the flag (Rs 1800). Thus the long term target comes out to be Rs 2400. However it is just a prediction. So one should give or take a standard +/- 5% deviation from the predicted target. PS - This stock has been chosen for only an ideal case study. This is not a recommendation. The stock may or may not perform as predicted or described.
NSE:BATAINDIAEducation
by tksthathachari
22
[ INTRADAY ] BATAINDIA LONG BET risk: Reward ratio is 1: 2 Rest as per Charts ******** Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. “Intraday” -means You must close this position at any cost by the end of the day. ======= Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low/High of the Candle”. In the case of Positional trades, it is mostly the previous swings ********
NSE:BATAINDIALong
by Palkesh_Agrawal