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Bata India Ltd
NSE :BATAINDIA BSE :500043 Sector : Leather
About Company: Bata India is primarily engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network.
News On Bata India: Bata India Q3 PAT seen up 159% YoY to Rs. 66.8 cr: ICICI Direct. Net Sales are expected to increase by 32 percent Y-o-Y (up 32.1 percent Q-o-Q) to Rs. 811.2 crore, according to ICICI Direct. Q3 Results will be release on 8th Feb 2022.
Daily Chart of BATAINDIA:
Technical Outlook Of BATAINDIA:
Stock rallied BATAINDIA jumped 5.97% in Friday’s trade. Stock gained 116.85 Per share and closed at 2072. On the hand Nifty closed flat losing 8 Points. Huge volatility is seen in the market post budget 2022 which will be announced on 1st Feb 2022.
On the Daily chart, Stock has formed classic rounding bottom pattern. Today stock closed near to week’s high which signals bullishness in the stock. BATAINDIA is trading above 20,50,100,200 days Exponential Moving Averages. If we look at Relative Strength Index (RSI) is bouncing from 50 level and forming Double bottom pattern. Volumes in the stock is at decent level.
Looking at the chart pattern and indicators we recommend to Buy BATAINDIA above today’s high 2090 for the Target of 2267- 2400, Stoploss to be maintained below 1870 on closing basis.
Friday’s Index Closing:
