Support and resistance levels are key concepts in technical analysis, a method used to evaluate and forecast price movements in financial markets, particularly in stocks, forex, and commodities. Support level refers to a price level at which a security or asset often finds buying interest, preventing its price from falling further. Traders and investors view...
In the Weekly Chart of BATAINDIA ,
we can see that, it is at decision making point.
Either we will a strong selling or a W shape recovery.
Trade with SL.
Having Good fundamental stocks and good value discounted Stocks
Technically taking support at CMP
Potential to reach 1600 as per technical
Hold till April
The stock has been going down in recent sessions. Now indicating a possible reversal by forming a double bottom and increased volumes.
The most important factor in this setup is the exit, if does not go in the desired direction. One should strictly follow the predetermined risk.
If goes well, then the risk-reward ratio is quite good according to the projected...
- Bata is trading at a good order block
- The last origin of the impulsive move was from the same place
- I expect the same to happen this time too
- This is the zone where you guys should be watching out for swings with a stop loss of 2%
This is weekly chart analysis done. It May create W chart pattern in weekly basis. It is also in triangle Pattern.
Buying position : 1390
Stop Loss : 1335
1st Target : 1550
2nd Target : 1600
3rd Target : 1800
Note : Before taking any trade do your analysis.
- symmetrical triangle pattern has formed in Weely chart
- yearly narrow range stock
- ema crossover has done and bearish engulfing candle has formed
- if break the lower trend line stock may fall further
- but at present the stock is trading at this year support level (S1) so, there is some chance to get trend reversal and to become bearish mode.
- watch the...
- Bata is a good International Brand, Dip has come due to poor results.
- Debt has increased, Reserves are adequate - Negative.
- Promotors holding is good & no promotors are pledged - Positive.
- Head and shoulder pattern on monthly chart,Tgt of H & S is marked in White vertical lines.
- Triangle pattern on monthly chart marked in aqua/skyblue colour.
- Volume...
BATA INDIA is an interesting chart with following
1. Bullish Harmonic BAT Pattern under formation on weekly chart
2. Price Reversal Zone as per Pattern is near 1420 - 1375 (below 1350 pattern fails)
3. Dozi formed on weekly chart with huge volume.
4. can be a good contra buy on dips with Low risk Reward as next resistance on upper side is at 1590-1610-1660...
NSE:BATAINDIA
Date : 19/12/2023
Chart Pattern : Symetrical Triangle Breakout.
Time Frame : Weekly Chart
CMP : 1674
Targets : 2295 (12 Months)
Stop Loss Level : Closing Below 1530
FII/FPI have increased holdings from 6.63% to 7.51%.
Disclaimer.
I am not sebi registered analyst.
Charts and levels are posted for Educational Purpose only it's not...
In the Weekly Chart of BATAINDIA ,
we can see that, it has respected the Trendline multiple times and it is spending time near Trendline.
Let's see if it makes or breaks.
Possible momentums is shown in chart.
Buy bata for targets
1768 - 5-6 sessions can take future or option with sl close below 1600 in 30 min time frame
2000-2 months , can enter in futures and roll over
Sl for this trade- daily close below 1570
