BATAINDIA Breakout of Darvas box

2 Mei

BATAINDIA 1W TIME FRAME

1. Trading at a support line at ₹1358.00. The stock is experiencing accumulating buying interest and is expected to bounce back up. The stock price is currently resting on this support level.

2. Darvas Box: A rectangle on the chart created by drawing horizontal lines at the highs and lows of a trading range. The idea is that the stock price will eventually break out of the box in either direction.

3. In May 2021, the stock initiated an upward move from 1350 to 2000, then retraced back to support. Starting from where the last journey began in March 2023, the stock once again saw an upward trajectory. It later retraced back to support. Now, mirroring previous patterns, it's establishing a base. In April 2024, sellers attempted to push the price down, but they were unsuccessful. This failure indicates high accumulation or buying interest, suggesting a potential upswing. If the stock consolidates near resistance and forms a base, we may anticipate further upward movement.

It is important to conduct your own research before investing in any stock.

Few Examples of Darvas Box For better understanding

Darvas Box Bigger the bigger the potential of upswing
Ex 1 .

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Ex 3 .

These are examples for better understanding about the Darwas box.