bata india share price: Stock Radar: Breakout on weekly charts! This firm may retest 52-week highs in 1-2 months
Synopsis
The stock, with a market capitalisation of more than Rs 25,000 crore, hit a 52-week high of Rs 2,261 on 16 November 2021 and since then the stock went sideways. It hit a low of Rs 1,655 in March 2022, and Rs 1,608 in June 2022.
Bata India, part of the footwear industry, gave a breakout above the trendline of a declining channel on the weekly charts which opens room for the stock to retest its 52-week highs placed at Rs 2,261.
Tracking the momentum, the stock climbed above crucial short- and long-term moving averages in July. short-term traders can look to buy the stock now or on dips for a possible target towards Rs 2,250 in the next 1-2 months, suggest experts.
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