Technical Analysis – Tata Steel
Tata Steel inched marginally higher by gaining Rs 5.6 (0.8 per cent) in the previous week. It is currently testing the short-term important resistance range between Rs 680 and Rs 700.We stay with the view that fresh long positions should be initiated only on a decisive jump above Rs 700. The upside target is Rs 720. Over a medium-term, the target is Rs 810. However, inability to move higher can pull the stock down to Rs 640 or Rs 600.
The stock has been on a medium-term uptrend since June 2010 and investors can prolong their holdings with stop-loss at Rs 535.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment