Buy Bata India with a target of Rs 587, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Bata India has been in a bull market of its own and then all of a sudden it decided to go through a deep correction. But it's essentially deep correction. It's not a bear market. That correction seems to be over. For me, I understand that this stock is going to resume its upward move."
He further added, "Remember Bata moved up from Rs 150 to Rs 700. So this correction is nothing in the context of those gains. Yesterday the appropriate patterns were made that suggest that swing traders should go long today. Position traders can take a longer time view but for short term traders, Bata India is a buy. Look at a target of Rs 587. If it is crossed, Rs 600."
