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    HomeNewsBusinessMarketsBuy Bata India, target Rs 940: Abhishek Mondal

    Buy Bata India, target Rs 940: Abhishek Mondal

    Traders can buy the stock around current level and add on dips around Rs 855-858 with a stop loss below Rs 828, says Abhishek Mondal of Guiness Securities.

    Moneycontrol Contributor
    October 10, 2018 / 10:35 IST
    Bata India | September quarter share price performance in 2019: 19%, 2018: 13%, and in 2017: 29%.
       
       
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      Abhishek Mondal

      After a decent correction from its 52-week highs, Bata India has bounced back strongly from Rs 841 levels (200-EMA) and its 61.8 percent retracement levels of Rs 842 (March 19 to August 29 up move) on October 8 2018 with higher volumes.

      On the daily scale, Relative strength index (RSI) is trading in the neutral zone. Traders can buy the stock around current level and add on dips around Rs 855-858 with a stop loss below Rs 828 (closing) for the target of Rs 940.

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

      Moneycontrol Contributor
      Moneycontrol Contributor
      first published: Oct 10, 2018 10:35 am

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