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Bata India, McDowell: Stocks that Nilesh Jain of Anand Rathi is bullish on

Bata India's stock is on the verge of a breakout from a downward sloping trend line

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McDowell's stock is trading in a rising channel

Nilesh Jain Mumbai
BUY NIFTY | TARGET: 11,350 | STOP LOSS: 11,100

The Nifty index continued to make a higher top and a higher bottom pattern and also achieved our short term target of 11,200. The overall structure is still looking positive as long as it holds its 200-DMA which is placed at 10,865 levels. The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls still have the upper hand. The volatility index, IndiaVIX, is hovering near 25 levels which is giving comfort to the bulls. Thus, aggressive traders can initiate a long position

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First Published: Jul 24 2020 | 7:44 AM IST

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