BATA INDIA: FIBONACCI TRADE SETUP ALERT!
**🚨 BATA INDIA: FIBONACCI TRADE SETUP ALERT! 🚨**
**💹 Current Price Action:**
Bata India is trading at **₹1,281.30**, holding just above a critical Fibonacci support level at **₹1,279.55** (0% retracement). The stock is currently in a **downtrend**, respecting the Fibonacci levels.
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### **📊 Key Fibonacci Levels:**
1. **Resistance Zones:**
- **23.6% Retracement (₹1,318.85):** First key level for bullish reversal.
- **38.2% Retracement (₹1,347.50):** Strong overhead resistance if momentum builds.
- **50.0% Retracement (₹1,368.89):** Likely rejection area during an uptrend test.
2. **Support Zones:**
- **0% Retracement (₹1,279.55):** Critical level; breaking this could lead to further downside toward ₹1,225.
- Below this level, the next psychological support is **₹1,200**.
3. **Trend Analysis:**
- The **44-day SMA (₹1,382.17)** is trending down, signaling continued bearish pressure.
- A descending trendline (dotted line) is compressing the price, indicating weakening momentum.
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### **🔥 Trading Strategy:**
1. **Bullish Play:**
- **Entry Trigger:** Above ₹1,318.85 (23.6% retracement).
- **Targets:** ₹1,347.50 (38.2%), ₹1,368.89 (50%).
- **Stop-Loss:** ₹1,279.00.
2. **Bearish Play:**
- **Entry Trigger:** Below ₹1,279.55 (0% retracement).
- **Targets:** ₹1,250 (short-term), ₹1,225 (long-term).
- **Stop-Loss:** ₹1,300.
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**📅 Upcoming Earnings (E Icon):**
The purple earnings icon suggests results are near! A **positive surprise** could push the stock toward higher Fibonacci levels, while weak results may trigger a selloff below ₹1,279.
### **🚀 Today’s Takeaway:**
Bata India is at a **make-or-break Fibonacci level**. Bulls need to reclaim ₹1,318, while bears aim to take out ₹1,279. Get ready for a potential **breakout or breakdown!**
