Bata India was in downtrend from the double top it formed few months back but it bounced back from 500 level from where it had bounced in june 11. Since 20th Dec 2011 it has taken support at 500 and making higher highs and now it is above 600.
In short term it should kiss 650. The stock is also trading above 20 and 50 DMAs which confirms its uptrend
Stop loss should be kept at 595.
