Here's a derivative strategy on Bata India by HDFC Securities

The stock price has broken down on the daily chart to close at lowest level in the June month with higher volumes.

Sell Bata Future at Rs 1,339

Target Rs 1290
 

Stop Loss Rs 1367
 

Lot Size 550.

Rationale:

1. We have seen Short build in the Bata futures yesterday, where we have seen 23% rise in the Open Interest (Prov) with price falling by 4%.
    
2. Stock price has broken down on the daily chart to close at lowest level in the June month with higher volumes.
    
3. Short term trend turned negative where stock price has closed below its 20-day SMA.
    
4. Daily RSI oscillator is showing negative divergence
    
5. + DI has fallen below -DI yesterday, indicating bears are having an upper hand