TRADING RECOMMENDATIONS Development Credit Bank Ltd.

Development Credit Bank Ltd. CMP—Rs 58.40
Technical Outlook & Trading Strategy:-

The share price of Development Credit Bank has registered a breakdown from its cluster of moving averages. The momentum indicators remain in negative territory indicating weakness in the stock price. We expect the stock price to decline towards the level of Rs 56- Rs 55 in the upcoming session.

Short positions are recommended at current levels with a stop placed above Rs 60.40 levels.

TRADING RECOMMENDATIONS Bata India Ltd.

Bata India Ltd. CMP - Rs 623.20
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 605 / Rs 590 levels.

We recommend sell at current levels with a stoploss placed above Rs 638.20.

TRADING RECOMMENDATIONS ITC Ltd.

ITC Ltd. CMP— Rs 205.75
Technical Outlook & Trading Strategy:-

The share price of ITC has registered a breakout from its resistances levels of Rs 205. The overall technical set up remains positive We believe that the share price could enjoy good upside momentum in the short term and test levels of Rs 213/ Rs 216.

We recommend a buy above Rs 206.50 with a stoploss placed below Rs 200.70