Pennant Formation with support emerging at 200 DMA,Breakout above 111.2 and breakdown below 105
Buy above 111.2 Tgt 112.4 and 114.2 and 115.7
Sell below 109.9 Tgt 107.4,105,104.2 and 102.9
Buy above 160 Tgt 161.8,163.5 and 167
Sell below 156.8 Tgt 154,152 and 149.1
Bata India one of the outperformed in May,Stock has not fallen much.But unable to cross its new high at 887 and getting selling at higher levels. Support exists in range of 825-828 as stock bounces back from this range. Traders will keep a close eye on this stock as any close below 825 will lead to a panic fall into the stock as Huge negative divergence is seen.
Sell below 850 Tgt 844,839 and 832
Buy above 865 Tgt 875,881 and 887