• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

This stock built on the recovery that started in the previous week and gained 3.8 per cent. Tata Steel has, however, not rallied above the resistance of Rs 468 and Rs 486 that we had indicated last week.

Though the oscillators in the daily chart have begun to signal a buy, the weekly oscillators do not conform yet. We retain our view that inability to rally above Rs 468 will drag this stock lower towards Rs 424.

Fresh purchases should be made only if the stock closes above Rs 486. A fall below Rs 424 will drag the stock price to Rs 398.

Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Commodities as an emerging asset class

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line