Downloading...
Download

Bataindiaidea

Bata India at Support - good positional playAnother stock that came on my radar is Bata India. Currently 42 % from its highs. It's at the level, from where it has seen a good run in the past and we might likely see that run again in the coming time. For me, it's not a portfolio stock, however, a position play can be taken, considering the stock trading at a good support level, hence risk reward would be great at this level. Support zone @ 1369-1231 Intermediate Resistance zone @ 1759 - 1825 Stop Loss below 1200. Above probability would be void below 1200 levels
NSE:BATAINDIA
by manuagarwal21
Bata India Ltd. (BATAINDIA) Sell StrategyThe chart shows a weekly candlestick pattern for Bata India Ltd. (BATAINDIA) on the NSE, with the current price at INR 1355.95. The chart is exhibiting a downward trend and suggests a bearish outlook based on key technical indicators. Key Observations: 1. Current Price and Trend: - The current price is INR 1355.95, with a recent decline of 1.32%. - The stock has been in a downtrend, as indicated by the descending trendline. 2. Support and Resistance Levels: - Immediate resistance is around INR 1379.20. - Support levels are marked at INR 1223.55 and a lower support level at INR 998.30. 3. Descending Trendline: - The stock has been following a descending trendline from its peak, indicating continued bearish momentum. - This trendline acts as a resistance level, preventing the stock from moving higher. 4. Trade Strategies: - Bearish Scenario: - The stock is currently below the descending trendline, suggesting further downside potential. - If the price fails to break above the resistance at INR 1379.20, it may continue to decline towards the support levels at INR 1223.55 and potentially down to INR 998.30. - Sideways Movement: - The price may experience some consolidation between INR 1379.20 and INR 1223.55 before making a decisive move. - Traders should watch for a breakout or breakdown from this range to determine the next direction. Summary: The weekly chart of Bata India Ltd. shows a clear downtrend, with the stock struggling to break above the descending trendline. Immediate resistance is at INR 1379.20, and the stock is likely to find support at INR 1223.55 and INR 998.30. Traders should be cautious and watch for a breakout above the trendline for any bullish indications, but the current outlook suggests a bearish trend with further downside potential if the price fails to hold above the immediate support levels.
NSE:BATAINDIAShort
by The90sTraderOfficial
Bata India - Good Breakout 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:BATAINDIALong
by PrakWorld_Traders