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The Relative Strength Index of the stock stood at 40.83 on Friday.

Promoters held 48.01 per cent stake in the company as of 30-Jun-2023, while FIIs owned 22.0 per cent, DIIs 18.1 per cent.

"Most of the analysts underestimated the impact on margins of the entire merger process with HDFC. Many people were betting on some relaxations from the RBI which did not come. There are SLR, CRR requirements at a time when liquidity is actually tightening and HDFC Bank has a huge market share in the CASA deposits already. So, for them to increase it further is tough."

In the June quarter of FY24, a handful of companies staged a turnaround from loss-making to profit-making on a year-on-year basis. According to StockEdge data, Just Dial, Sterlite Technologies, Lloyds Metals and others turned profitable in Q1FY24

​Though we all are believers that this is a wealth-creating space, and if you are patient enough, disciplined enough over a 5-year, 10-year cycle, this space tends to be generally very good from an investor return perspective. But in the near term, there are some dark clouds which we need to be careful about.

The stock quoted a 52-week high of Rs 775.0 and a 52-week low of Rs 557.15.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.

Despite weak market conditions, Bata India maintained its strong momentum throughout the day. In the short-term period, the stock has seen strong price volume reversal formation. The texture of the pattern suggests positive sentiment is likely to continue in the near future.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.