BATA INDIA - BUY
CMP: Rs 569.20
TARGET: Rs 600
STOP LOSS: Rs 545
The stock has made a higher bottom formation like pattern in the daily chart and with the reversal of trend in RSI, the stock looks attractive for an up move to scale further new heights. The volume participation has been a decent one and with favourable indicators supporting, we recommend a buy in this stock for an upside target of 600 keeping a stop loss of 545.
SHRIRAM CITY UNION FINANCE - BUY
CMP: Rs 2,309.80
TARGET: Rs 2,600
STOP LOSS: Rs 2,150
The stock has made a decent correction from the peak of 2,620 to around 2,200 levels and has bottomed out there and now is showing a trend reversal with a positive bullish candle pattern. The RSI indicator has reversed its trend signaling a buy and recovered from the oversold zone and with good volume activity going on, we recommend a buy in this stock for an upside target of 2,600 keeping a stop loss of 2,150.
OIL INDIA - BUY
CMP: Rs 277.65
TARGET: Rs 310
STOP LOSS: Rs 258
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