Stock Market
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.
Bata India Stock Price
CMP: Rs 845.55
Target: Rs 890
Stop loss: Rs 820
In the current month of June 2018, when most of the stocks have been hammered down, Bata managed to register new all time high with jump in volumes. After 3 days of running correction, Bata India resumed its uptrend during yesterday’s trading session by rising more than 2.5% with higher volumes. Oscillator and Moving average setup also indicates the bullish trend for the stock.
We recommend Buying Bata India for the target of 890, keeping SL at 820.
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