Wolfe Wave formed at the top area could offer a good short trade with reasonable Risk to Reward ratio. One can short the stock below 1090 and look for a targt of 980.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
After a sustained uptrend BataIndia looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension from the SPL of 1075) looking set to reverse its trend. Its giving divergence as per stochastic and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement. Its ...
NSE: BATAIndia Momentum play for 1282
Breakout momentum play for short term 1282
Trapped in range 833 to 1110 from June 20 to Jan 08
Current momentum can take stock to 1282
Possible Long above 1110 with stop loss 1088 for targets 1179, 1225, 1282 +
If momentum continues price may be pushed beyond 1282
Use stop loss and trail stop loss