Stocks

Simple tool for great trading idea on Bata India

We try to implement many technical studies and indicators to get some great multiplexer for long term, but a simple trend line could give you the same too. Today i want to show you graph of Bata India and interestingly you guys could notice that stock has been taking strong support on the white line drawn connecting lows on the chart. You would be glad to know that the graph is Monthly chart and Bata is taking support of this line since 2008. Stock has almost taken support and bounced back for 3 times prior and for almost more than 10 months to count candles.  So now today stock is trading at the same upward sloping line and it has been taking support since November.  To add other simple tool to trend line, we are getting higher highs and Highers lows, since last 3 months on same time frame. So going out with a common Stop loss idea, we should keep a SL of 3% below the line at 448 and which means sl comes at 434. So a long term investor who believes “Bhav Bhagwan che” can take a long call for 3 years  at CMP 468

 

 

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