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

TRADING RECOMMENDATIONS HDIL Ltd.

HDIL Ltd. CMP - Rs 156.75
Technical Outlook & Trading Strategy:-

The share price of HDIL has registered a breakdown from its rising trendline support and in the process has closed below its cluster of moving averages. We expect the stock price to decline towards the level of Rs 150.50 / Rs 148 in the
near future.

We recommend a sell at current price and again on pullback to the levels of Rs 158- Rs 159 with stop loss placed above Rs 162.80 for the aforementioned targets.