Sudarshan Sukhani of s2analytics.com is of the view that Bata India has target of Rs 1050.
Sukhani told CNBC-TV18, "Bata India made those new highs, which it has been doing on Friday and that were when the markets were a little confused. Those new highs also confirmed a bullish pattern, some kind of a continuation of the uptrend and that gives a target of Rs 1050 now. That’s fairly ambitious, that’s 15% up. But Bata has been doing the right things. I think it is now still on a roll, there is much more upside.”
He further added, “If this market is going up and it could well be, so we are just following the momentum. If it doesn’t go up we’ll have to suffer that setback. But if it is going up then midcap stocks are going to go with it and certainly probably outperform.”
“ Jain Irrigation has completed its bear market. It made a double bottom, rallied, then it went through a very sever and sharp correction after the rally. That’s good news because we can buy it lower. So around Rs 75 where it stands now, Jain Irrigation has completed a correction and it is probably going to resume its uptrend. This could be a significant up move. So it is not just a day trade. If the trade goes in our favor, we should carry it on.”
Moneycontrol news
No comments:
Post a Comment