BATAINDIA trade ideas
BATA - Good for swing as well as investmentThis analysis is purely based on price action and chart pattern.
Analysis is done on daily TF hence it may take several days to couple of weeks to reach its target. Traders can also take advantage of this analysis in intraday trades.
Analysis & Strategy along with logic is explained in image itself.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Feel Free to comment for any suggestion or query about chart study / price action analysis.
Bata India - ShortBata India CMP - 1544.20
Looking bearish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Sell at or Below 1540 / Stop Loss - 1551
Target 1 - 1532
Target 2 - 1522
Target 3 - 1512 / 1502
Disclaimer: This is my view and for educational purpose only.
Bata can give big move buy on dips for short termbreak previous resistance of 1515 and made big green candle so buy
on dips for trgt-1630++ in swing trade.Buy at 1300-1330 range and go long.
currently in overbought rsi-77 so for intraday
sell below-1558-trgts-1543-1538 sl-1565-68 after volume rsi confirmation
buy above-1590-trgts-1616-1624 sl-1580-1575.after a balances rsi confirmation.
like and comment my work.
note-trade at own risk or watch my analysis 1st.
BATA INDIA DAILY - Volume Price AnalysisVolume Price Analysis
According to my insights from reading " A Complete Guide to Volume Price Analysis " by Anna Couling , this is what I understood with BATA INDIA Daily Chart :
1. Accumulation Phase has occured from 19th March 2020
One can identify such phases with the help of spike in volumes and areas of support and resistance . Further more there has been an increase in volume prior to march , meaning increase in activity by insiders
2. Spike in Volumes on days of support and resistance
Upon identifying areas of support and resistance , there has been one common factor i.e spike in volume . The volume has had a sudden spike as pointed with the help of directional green arrows , one can further tell these are points of reversals as the 3rd Law of Wycoff : Law of Effort & Result is being negated with the movement in price on that particular day ( consider body of candle )
3. End of Accumulation Phase
One can understand the end of the accumulation phase with the movement in volume and movement in price . Volume gradually decreases as the price decreases , as you can see with the rough trend lines drawn to indicate the same
4. Beginning of Trend
The trend begins once the highest point of the accumulation phase has been broken , in this case 1464.40 , also backed by direct relation of volume and price from 17th Nov to 19th Nov , 19th Nov being the breakout candle
5. Target
Target would personally in my opinion be the height of the phase of accumulation. Distribution would occur around 1735 levels
P.S , This is my first analysis on VPA . It would be greatly appreciated to read your insights on this analysis
