TRADING RECOMMENDATIONS Bata India Ltd.

Technical Outlook & Trading Strategy:-

The most important observation to be made on the charts of Bata India is the negative divergence displayed by indicators.

They signal that the upward movement of the price could have lost force and in all likelihood give some kind of a decline.

In the short term we expect the share price to decline towards the target of Rs 648 / Rs 35 levels once it trades below the 668 levels.Hence we recommend sell below Rs 668 with a stoploss placed above Rs 687.20

TRADING RECOMMENDATIONS Indian Oil Corporation

Technical Outlook & Trading Strategy:-

The share price movement of IOC appears to be taking form of an Inverted Head & Shoulder pattern.

An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline.

In the case of IOC the neckline is placed at the levels of Rs 319-Rs 320. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 334 / Rs 340.

We recommend traders to buy at current level with a stop loss placed below Rs 308.70 levels for targets of Rs 326 / Rs 334 /Rs 340 levels.