Momentum Building in BATA INDIA – Watch ₹1,256

Chart Overview

Timeframe: 1 Hour (Short-term outlook) Current Price: ₹1,239 . Resistance Zone: ₹1,256 – ₹1,260 Why Important? This was the last visible lower high before the price broke down heavily in early June. Price is now testing this area again after forming a clean uptrend from the ₹1,193 bottom. What to Watch? A breakout above ₹1,256 with volume will confirm further bullish momentum. 2. Immediate Resistance: ₹1,239 (Current Market Price) Status: Testing Price is currently consolidating around this level. It’s a short-term swing top from previous candles on this timeframe. If rejected, expect minor pullbacks toward the next supports. 3. Minor Support: ₹1,231.90 Why Important? Acts as a micro-pivot zone, where price recently took a breather before pushing higher. Traders' Role: Watch if it holds on dips—could be an entry zone with tight stop loss. 4. Strong Support: ₹1,220.30 Why Important? This is a structural higher low — if price breaks below this, the short-term uptrend gets invalidated. Stop Loss: For aggressive long positions, this is a good level to place SL. If broken, price may slide to ₹1,200 or even retest bottom. 5. Major Support/Base Level: ₹1,193.50 Why Important? This is the swing low and trend reversal point formed end of June. This is the bottom of the current rally, and breaking this will shift sentiment back to bearish. Strategy Based on Levels: If Bullish: Accumulate on dips near ₹1,231–₹1,220 with SL below ₹1,220. Add more above ₹1,256 on breakout. If Bearish / Cautious: Avoid long until ₹1,256 breakout confirms. Short near ₹1,256 if rejected with tight SL above ₹1,260. Unite Technologies Financial Services, a SEBI-Registered Research Analyst (Reg. No. INH000020350). The information provided herein is solely for educational and informational purposes and should not be construed as investment advice or a recommendation to buy/sell/hold any security.