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    HomeNewsBusinessMarketsSell Bata India, target Rs 845: Rupak De

    Sell Bata India, target Rs 845: Rupak De

    Traders can accumulate the stock in the range of Rs 930-910 for the target of Rs 845 with a stop loss above Rs 957, says Rupak De of Bonanza Portfolio.

    Moneycontrol Contributor
    October 04, 2018 / 11:57 IST
    Bata India | September quarter share price performance in 2019: 19%, 2018: 13%, and in 2017: 29%.
       
       
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      Rupak De

      Bata India has given a breakdown from the consolidation pattern which suggests increasing pessimism in the stock. The fall in price was backed by a rise in volume.

      The momentum oscillator RSI (14) is in bearish crossover and falling suggesting a continuation of bearish momentum.

      Traders can sell the stock in the range of Rs 930-910 for the target of Rs 845 with a stop loss above Rs 957.

      Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. 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 Contributor
      Moneycontrol Contributor
      first published: Oct 4, 2018 11:57 am

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