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Money Doesn’t Come Without Guidence ...

Buy Bata India, target Rs 909

Hadrien Mendonca

Bata India has been maintaining its higher top higher bottom structure. It has been consolidating for the past seven months and has finally broken out from a Cup and Handle pattern on the weekly chart.

The breakout has also been accompanied by credible volumes expansion. We expect Bata to extend the momentum and make an attempt to move towards its potential target of Rs 909 in the medium term.