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The scrip held on to the gains recorded in the previous week though it could not make any fresh progress.

It remained stuck to the range between Rs 474 and Rs 488. The Rs 495 level that we had indicated last week remains an important resistance for this stock.

Fresh buying should be done only if the stock moves above Rs 495.

Rally above Rs 495 can take Tata Steel to Rs 517 and then Rs 539.

Support for this stock this week would be at Rs 450 and then Rs 424. Buying can be done on dips with a stop-loss at Rs 448.

Lokeshwarri S. K.

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