Bata India touching long term support, preparing for breakout up

5 בנוב׳ 2016

Bata India fell nose down in August'16 and has been continued in the bearish mode,it formed a bearish flag,and has completed almost 80% flag pole target and preparing to trend reversal, we may see this stock to retest again the support before breakout. trader may go short up to 448.50 and wait for direction, it may consolidate also before breakout. we may enter this stock after the breakout of falling wedge pattern with a target of somewhere between 520-521 in near term.