**🚨 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.
---
### **📊 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.
---
### **🔥 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.
---
**📅 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!**
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.
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.