Go long on Bata, target of Rs 1150: Navneet Daga

Navneet Daga of KR Choksey Securities told CNBC-TV18, "We have seen a record high touching today in Bata India. We believe that momentum is quite strong for this counter and we have seen a very strong long build up happening on this particular stock. We have seen almost 8 percent open interest (OI) addition in today’s session."

"We believe that the stock might be heading towards Rs 1,150-1,140 kind of zone on the upside and so recommending going long on Bata futures at a current price of Rs 1,080-1,085 kind of levels. On the downside one can keep a strict stoploss at Rs 1,050 levels," he said.