ABB strong, Bata strongest

ABB (Buy above Rs 876, target of Rs 900)

ABB has been showing strength despite the overall weakness in the market. The stock has retraced back from its previous high of Rs 875 and can touch the next resistance patch of Rs 900 if it manages to break it. Power distribution companies have been in demand lately as state electricity boards have started increasing power tariffs.

Ambuja Cements (Buy above Rs 148, target of Rs 153)

[caption id="attachment_84331" align="alignleft" width="380" caption="Bata has been one of the strongest performer in the market over the last one year.Reuters"][/caption]

Ambuja Cements has seen some selling over the last few days around the Rs 148 levels. Interestingly, selling volume has reduced over time and the stock looks ripe to cross its resistance level of Rs 148.

Bata (Buy above Rs 675, target of Rs 700)

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Bata has been one of the strongest performer in the market over the last one year. The stock has closed near the high of the day with buying volume picking up in the last one hour on Wednesday. Sustained buying can take the stock higher as it has already corrected by 15 percent in the last two weeks after touching its all time high level of Rs 741.

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