TECHNICAL ANALYSIS OF BATAINDIA

BATAINDIA

CMP 556.73

10 DMA 555.30

50 DMA 514.00

200 DMA 500.25

THOGH THE STOCK IS RANGING ABOVE THE 200,50 AND 10 DAYS MOVING AVERAGE, IT HAS RETRACED BACK FROM 78.60% FIBONACCI RETRACEMENT LEVEL 567.34  HENCE IT MAY TAKE SUPPORT AT 61.8% LEVEL OF 530.00 . IF IT BOUNCE BACK FROM 530.00 LEVEL THERE IS BUYING CHANCE. NOW THERE IS CHANCE OF SHORTING THE STOCK BATAINDIA