IF THE PATTERN FOLLOWS "W" SHAPE (MOST LIKLEY), THEN WITH STOP LOSS @ 2120 (LOWER BLUE LINE) ONE MAY GO FOR LONG.
As the crop season is good, the price may move up.
AS POSTED, TARGET 155 WAS ACHIEVED. LOOKING AT THE CURRENT TRADING SCENARIO / STRATEGY IN THE MARKET, EVENTHOUGH THE RESULTS ARE GOOD, ONE CAN SEE THE PRICE FALLS.IT IS BETTER TO BUY AT LOWER LEVELS AFTER DUST SETTLES DOWN.
BASED ON THEORY, FUNDAMENTAL REASONS SHOULD COME INTO PLAY. LET US SEE. AS EXPECTED, PRICE CAME BELOW 1060 EVEN AFTER GOOD RESULTS ANNOUNCED. MAYBE THE MORATORIUM PERIOD WILL GIVE THE CLARITY.
HOPE THE PRICE CROSSES 550 AND THE ONES WHO BOUGHT AT THE PRICE, GETS RELIEF. CHARTS INDICATE.
AS POSTED EARLIER, THE SHARE HAS CROSSED THE RESISTANCE LINE. NOW, AS THE RESULTS ARE GOOD, 504 AND BEYOND. BUT, AS USUAL, ONE HAS TO BE CAREFUL THAT SOME BIG ONE WILL SELL AT HIGH PRICE AND SMALL INVESTOR WILL BE TRAPPED, SURPRISED AND SHAKEN. HENCE, BE CAREFUL.
With the kind of news, BATA is expected to cross 1350 levels initially and go towards 1740 in the long run.
Will AXA merger provide the break out??
Might come back to 1620 level. Do not enter long position!!
AT NECK LINE OF 198 AND INVERSE H&S PATTERN. WHICH FACTORS ARE GOING TO INFLUENCE?
IF ONE OBSERVES THE CHART OF THIS COMPANY, IT CAN BE OBSERVED THE TRADING RANGES ARE FROM 408-415, THEN HIGH OF 430, FOLLOWED BY 436. AND, NOW THE NEW HIGH IS BEING SEEN AS 447. THERE IS LOT OF SUPPORT AT THE BOTTOM LINE OF THE WEDGE. BREAK OUT TO 484 IS SEEN.
Trust that the big players have acquired enough in the World's second largest traded share with 59 BUY Recos. After good Q1 results, the share unusually made a fall of about 18%. Stop loss of my previous reco was triggered due to this.