Jan 05, 2012, 11.41 AM | Source: Moneycontrol.com
IIFL is bullish on Bata India and has recommended buy rating on the stock with a target price of Rs 585 in its January 5, 2012 research report.
, IIFL |
“Bata India has given a breakout from the downward sloping resistance line on the daily chart. Weekly line chart shows a breakout from a falling wedge pattern. Such back to back confirmation on short term and medium term chart supports our buying argument at current levels and provides better risk-reward ratio. The rally was accompanied with a positive crossover in RSI, earmarking inherent strength in the counter. Based on above observations, we recommend traders to buy the stock above Rs 555 with stop loss of Rs 545 for target of Rs 585,” says IIFL research report.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Sudarshan Sukhani of s2analytics.com recommends bu
Rajat Bose of rajatkbose.com is of the view that o
Net Sales are expected to up 10.5 percent Y-o-Y to
Bata India's board meeting will be held on August
The package may include reduction in excise duty,