Anand Rathi's Jigar Patel Recommends Bata India, BDL and Aarti Industries for Short-Term Buys

Patel views the recent market correction as a healthy retracement within a broader uptrend, noting that the Nifty has approached the 50% Fibonacci retracement level at 24,190. He identifies the 24,190–24,054 zone as a critical support area, suggesting that any dip toward this range should be seen as an opportunity to accumulate quality stocks rather than a sign of trend reversal. A sustained move above 24,500 would reinforce bullish momentum and potentially open the path toward 25,000, provided the 24,050–24,190 zone remains intact.

For Bata India, Patel observes signs of a potential bottom formation after a prolonged downtrend, with the stock finding strong support in the ₹620–₹680 range. The recent rebound above ₹700, coupled with the RSI at 52.10 crossing above its signal average, indicates improving momentum. He suggests buying on dips between ₹735 and ₹720, with a stop loss at ₹710 on a closing basis. A sustained move above ₹750 could strengthen the recovery and open the way toward a target of ₹820, while a break below ₹710 would weaken the bullish structure.

Regarding BDL, Patel notes a positive weekly chart setup after the stock reclaimed the ₹1,350–₹1,380 zone and broke above a descending trendline, signalling an improving price structure. The RSI at 54.65 has moved above its signal average, supporting the bullish bias. He recommends accumulating the stock on dips between ₹1,390 and ₹1,360, with a stop loss at ₹1,300 on a closing basis. If sustained above the breakout zone, the next resistance is near ₹1,500, followed by a supply zone at ₹1,550–₹1,600, making ₹1,550 the positional target. The view remains bullish as long as the stock holds above ₹1,300.

On Aarti Industries, Patel highlights a strong bullish weekly chart setup, with the stock trading above both the 20-week EMA (₹473.86) and 50-week EMA (₹450.05), indicating a positive medium-term trend. The stock has also moved above the Ichimoku cloud, and the MACD is positive, adding momentum confirmation. The RSI stands at 66.18, reflecting strong momentum, while the +DI at 29.14 remains significantly above the -DI at 13.31, confirming bullish directional strength. He advises buying on dips between ₹520 and ₹530, with a strict stop loss at ₹495 and a target of ₹600.

Patel maintains a cautiously bullish stance on the broader market, contingent on key support levels holding. He believes that dips toward the suggested buying zones in these three stocks offer favourable risk-reward opportunities for positional trades over the next one to two weeks. The recommendations are based on technical analysis and are intended for educational purposes only, not as investment advice.