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BATAINDIA trade ideas

LONGSETUP BATA INDIAA Bullish Flag and Pole Chart Pattern Breakout happened on the weekly Time frame of BSE:BATA1! Price Action is well supported by the volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list. Initiate the long trade only according to the levels mentioned. Stop loss will be on weekly closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish Flag and Pole Technical Indicator :- Positive MACD Crossover
NSE:BATAINDIALong
by raigvivek
2
BATA INDIAWAIT FOR THE LEVEL 1770 TO BREAK. Harmonic pattern analysis is a technical analysis method used in financial markets, particularly in trading and investing. It is based on the idea that price movements in financial instruments follow certain geometric patterns that repeat over time. These patterns are often referred to as "harmonic patterns" because they exhibit a harmonic or rhythmic quality. Here's a short note on trend analysis based on harmonic patterns: Pattern Recognition: Harmonic pattern analysis involves identifying specific price patterns on a price chart. The most common harmonic patterns include the Butterfly, Gartley, Bat, and Crab patterns. These patterns are characterized by a series of Fibonacci retracement and extension levels, which help traders determine potential reversal points. Fibonacci Relationships: Harmonic patterns rely heavily on Fibonacci ratios, such as 0.618, 0.786, 1.618, and others. These ratios are used to validate the existence of a harmonic pattern. When the price levels align with these ratios, it suggests that a harmonic pattern might be forming. Trading Signals: Traders use harmonic patterns to generate trading signals. A completed harmonic pattern can indicate potential trend reversals or trend continuation points. For example, a Bullish Gartley pattern might signal a potential bullish reversal, while a Bearish Butterfly pattern might suggest a bearish reversal. Risk Management: Risk management is essential when trading based on harmonic patterns. Traders often place stop-loss orders to limit potential losses if the pattern fails to play out as expected. Additionally, they calculate risk-reward ratios to assess the profitability of the trade. Time Frames: Harmonic patterns can be applied to various time frames, from intraday trading to longer-term investing. The choice of time frame depends on a trader's objectives and trading strategy. Subjectivity: One challenge with harmonic pattern analysis is its subjectivity. Different traders may interpret the same chart differently, leading to variations in trading decisions. Therefore, it's important to combine harmonic pattern analysis with other technical and fundamental analysis tools. Backtesting: Before implementing harmonic pattern analysis in live trading, it's advisable to backtest the strategy on historical data to assess its effectiveness and suitability for your trading style. In conclusion, harmonic pattern analysis is a technique that traders use to identify potential trend reversals or continuations based on specific geometric patterns and Fibonacci ratios. While it can be a valuable tool in a trader's toolkit, it should be used in conjunction with other forms of analysis and with careful risk management to make informed trading decisions.
NSE:BATAINDIALong
by imkunal7
BATA INDIA is a buy or sell?NSE:BATAINDIA A very good setup spotted in BATA, 1660-1700 seems good zone either for breakdown or breakout. As you can see in charts before pandemic, around January 2020 stock was trading at ATH and 1660-1700 range acted as good support. But after the fall in March 2020, stock tried to break this levels (In Jan 2021 and Jun 2021) but didn't succeed. Finally in Aug it gave breakout and gone past 2250 levels. As we all know previous resistance will now act as support. As we can see on charts it has taken support 3 times after the breakout(i.e. in March, June and November 2022). After that stock broke that level which was acting as support and now it will act as resistance, today it is at resistance level. But is it a buy or sell? If you closely look latest weekly candles are type of Doji. What I'll do in this setup? I will keep this stock in radar and look either sides for profits(buying as well as selling) depending on the performance next week. If breakout, I will wait for confirmation and after retest, will look for buying one. If strong rejection candle here, will look for selling side. Kindly Note: All this are for educational purpose. You should trade as per your own analysis.
NSE:BATAINDIA
by nikhilparyani
2