Bata India (BUY, Rs343-353, Target Rs366): Bata India has signaled a breakout on monthly from inverted head and shoulder pattern and stock has being moving steadily higher even in the short term. The expansion of volume activity during the up move and contraction during down move exhibits bullish trend in the stock. The 30-DMA also acts good support for the counter and dips towards same should provide a buying opportunity. We advise buying stock in the range of Rs342-353 with stop loss of Rs333 for target of Rs369.
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