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Last Updated : Sep 30, 2020 04:27 PM IST | Source: Moneycontrol.com

Quant Pick - Bata India: ICICI Direct

According to ICICI Direct, Buy Bata India in range of Rs 1365-1395, Target: Rs 1620, Stop Loss: Rs 1255, Time frame: Three months.

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ICICI Direct's research report on Bata India


Post the March sell off, Bata India seems to have formed a good base at Rs 1200. Since then, it has been trading in the range of Rs 1200-1400. Now, it is coming out of the long consolidation range, which was on account of the lockdown due to Covid-19. The open interest in the stock has declined almost 25% since the August series suggesting continuing short covering. Recently, in a highly volatile market, the stock has been balanced in the said range. However, we expect further upsides to be seen in the stock ahead of its quarterly results.

For all recommendations report, click here

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First Published on Sep 30, 2020 04:23 pm
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