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Published on 26/02/2020 10:59:07 AM | Source: Motilal Oswal Services Ltd

Sell Bata India Ltd For Target Rs.1660 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #Motilal Oswal #Bata India Ltd. #Trading Report

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Trading Calls

* Bata India has given a breakdown from a Rising Channel on daily chart and sustaining well below the same. Stock also closed below its support of 50 DEMA for second consecutive session, which doesn't bode well for the bulls. RSI oscillator also gave a trendline breakdown on daily scale and thus indicating further weakness in the counter.

* Looking at current chart structure, we are advising traders to take a short trade in the stock (March Fut) for a correction towards 1660 with a stop-loss of 1765

 

Recommendation

Sell Bata India Ltd SL 1765 Target 1660 CMP 1730

 

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