Bata – Technical Setup
Trend Context: After a prolonged bearish phase, Bata has shown signs of reversal from a strong support zone around ₹1100.
Price Action: Recently, the stock formed a base near support and has now given a trendline/neckline breakout. On the daily chart, the inside candle breakout adds confirmation of bullish momentum.
Levels to Watch:
Entry: Above inside candle breakout (sustaining strength).
Stop Loss: ₹1200 (round level support) – keep it strict.
Targets:
T1: ₹1294 – near-term resistance.
T2: ₹1362 – next resistance / swing target.
Weekly View: The stock is trying to reverse its medium-term structure. Sustaining above 1290–1300 will add conviction for higher levels.
✅ Summary Trade Idea:
Bata looks attractive after reclaiming support and giving a confirmed breakout. Risk is well-defined at 1200, while upside targets of 1294 / 1362 offer favorable risk-reward if momentum sustains.
Trend Context: After a prolonged bearish phase, Bata has shown signs of reversal from a strong support zone around ₹1100.
Price Action: Recently, the stock formed a base near support and has now given a trendline/neckline breakout. On the daily chart, the inside candle breakout adds confirmation of bullish momentum.
Levels to Watch:
Entry: Above inside candle breakout (sustaining strength).
Stop Loss: ₹1200 (round level support) – keep it strict.
Targets:
T1: ₹1294 – near-term resistance.
T2: ₹1362 – next resistance / swing target.
Weekly View: The stock is trying to reverse its medium-term structure. Sustaining above 1290–1300 will add conviction for higher levels.
✅ Summary Trade Idea:
Bata looks attractive after reclaiming support and giving a confirmed breakout. Risk is well-defined at 1200, while upside targets of 1294 / 1362 offer favorable risk-reward if momentum sustains.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.