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    HomeNewsBusinessMarketsBuy Bata India, target Rs 909: Hadrien Mendonca

    Buy Bata India, target Rs 909: Hadrien Mendonca

    We expect Bata to extend the momentum and make an attempt to move towards its potential target of Rs 909 in the medium term, says Hadrien Mendonca of IIFL.

    Moneycontrol News
    June 22, 2018 / 14:04 IST
    Bata India | September quarter share price performance in 2019: 19%, 2018: 13%, and in 2017: 29%.

    Hadrien Mendonca

    Bata India has been maintaining its higher top higher bottom structure. It has been consolidating for the past seven months and has finally broken out from a Cup and Handle pattern on the weekly chart.

    The breakout has also been accompanied by credible volumes expansion. We expect Bata to extend the momentum and make an attempt to move towards its potential target of Rs 909 in the medium term.

    Disclaimer: The author is Senior Technical Analyst, IIFL. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Jun 22, 2018 02:04 pm

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