BATAINDIA trade ideas
BataIndia, BreakoutAn uptrending stock corrected suitably and finished correction at 200 DMA. Now rising once more. Breaking out of the earlier highs. 905 is a steep resistance and it has a Negative Divergence in MACD as well. Bears have taken a strong position at 900 Call and siting tight. Crossing this will give another boost to bulls for a steady rise.
LONG BATA INDIA - READY FOR THE NEXT BREAKOUT ABOVE 800BATA INDIA IS Consolidating in a Price range of 765 ~ 815 from last 6 Weeks, Stock is trying hard to move towards 810~820 levels but once it touches the price levels of INR 800, it was not able to sustain over 800 & comes down towards 780, 785, 790 levels & give closing near those levels.
But it was seen this week some volume buying came & it hover near 800 levels & final closing came near 792, i am very much hopeful in coming week post Karnataka elections it will go beyond 800 levels & give closing over 800.
Lets ready for the next big Action in BATA India for a price levels of 815-825.
BATAINDIA ANALYSIS ON MAY 4TH 2018As per my analysis, good days are about to start in bataindia as in the chart it already formed the CUP_HANDLE pattern which signifies the bullish trend and as per my view as it already touched 816 mark so this time it can reach about 840-860 mark in the month of May 18.