Bajaj Consumer, Bata show reversal on charts; buy and hold: Vaishali Parekh

After the correction, the stock of Bata India has taken support near the trendline support zone of 1,850 and has indicated a reversal to bottom out

BUY BAJAJ CONSUMER | CMP: Rs 200.70 | TARGET: Rs 240-260 | STOP LOSS: Rs 185

The stock has witnessed a decent erosion in recent times, bottoming out near 184 zone. It is currently indicating a prominent reversal with a bullish candle pattern on the daily chart signifying strength and has potential to carry on the momentum still further upside in the coming days. The RSI also indicated a trend reversal from the oversold zone and has signaled a buy to improve the bias. We suggest to buy and accumulate this stock for an upside target of 240-260, keeping the stop