The consumption story is intact. And how. More happy feet with Bata and stock investors have had their sneakers on laughing and running all the way to the bank. With fresh lifetime highs, next stop 1750 - 1775 suggests Mr. Fibonacci. Haven't you done an SIP on the stock yet?
Breakout in BATA India on daily time frame. There was breakout and then last kiss and moved up.
Next Targets could be 1553, 1579, 1606, 1644
Before achieving these targets it might retrace to previous supports (marked on the chart), then there would good buying opportunities.
This scrip is moving in small channel , we know exactly how they brake and when they brake they move fast
One can expect the push may run up to 1630 + , i dont advise on selling with in the channel ,
One can wait for channel to brake and close below then look for sell set up for next move down
Book the profits near forecast area
After breakout first measured move target achieved. Now if croess the above it we can expect it to reach the larger measured move target.
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One of the strongest charts in the market
is at its all time highs
Upmove started after release of strong nos
Has run up a bit and hence is a buy on dips
stops can be placed at 1480
Stock seems to be headed much higher
VERDICT : Buy on Dips
Bata is heading towards Weekly Trendline.
The target can be seen as the Green Rectangle box at around 1650 Levels.
A target can be achieved by the End of September (Last Week).
Weekly closing with Marubozu candle giving a positive signal .
In this bloodbath market stock showing continue strength .
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Buy - 1473
Target - 1600
Stop loss - 1430
Bata India Limited is engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network, and development of real estate. The Company's segments include Footwear & Accessories, and Surplus Property Development. The Footwear & Accessories segment is engaged in the business of manufacturing and trading of footwear and accessories items through its retail and wholesale network. The Surplus Property Development segment is involved in development of surplus property at Batanagar. It offers accessories for women, including hand bags, belts, clutches and scarves, and for men, including shoe care products, wallets and belts. Its brands include Bata, Bata Comfit, Bubblegummers, Hush Puppies, Power, Weinbrenner and Naturalizer. It has a retail network of over 1,200 stores. It also operates a non retail distribution network through its urban wholesale division and caters to various customers through approximately 30,000 dealers.
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BATAINDIA
