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Trading strategies for Bata India and Alembic Pharma by Mehul Kothari

BATA INDIA has been correcting from 1,950 without any meaningful bounce

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Mehul Kothari Mumbai
BUY BATAINDIA NEAR Rs 1,400 | TARGET: Rs 1,560 | STOP LOSS: Rs 1,320 
BATAINDIA has been correcting from 1,950 without any meaningful bounce. At this point in time, it is hovering near a rising trend line support on the weekly scale. In addition, it is on a major support of Ichimoku system on the monthly scale. We expect a decent bounce in the stock from here on. Thus, we advise traders to go long in the stock near Rs 1,400 with a stop loss of Rs 1,320. 

BUY ALEMBIC PHARMA NEAR Rs 520 | TARGET: Rs 560 | STOP LOSS: Rs

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First Published: Feb 24 2023 | 7:15 AM IST

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