Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Bata India fell down to Rs 780 and repeatedly it found support there. This time also when the decline came together with the Nifty, Rs 780 was a nice support level, it has bounced like a V-shaped recovery. It is a good stock to be in. If someone is a position trader and want to hold on, one should have target of Rs 1,000."
"For day traders obviously the targets are more modest but then one can trade more often. So Bata is a buying opportunity. If one wants to hold positions or want to day trade, it is ideal today," he added. At 11:00 hrs Bata India was quoting at Rs 838.70, up Rs 12.95, or 1.57 percent. It has touched an intraday high of Rs 844.80 and an intraday low of Rs 830.00. The share touched its 52-week high Rs 989.00 and 52-week low Rs 688.25 on 03 October, 2012 and 20 March, 2013, respectively. Currently, it is trading 15.2 percent below its 52-week high and 21.86 percent above its 52-week low. Market capitalisation stands at Rs 5,389.80 crore.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
