• 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

The 9 per cent surge in Tata Steel on Wednesday has made the stock close the week with a gain of over Rs 100. The stock surpassed Rs 610, contrary to our expectation, and went to close the week well above the intermediate term resistance at Rs 655. The near-term outlook for Tata Steel will stay positive until it trades above this support. The stock can rally to Rs 706 and then to Rs 730 in the near term.

But over the medium term, the stock could move to a high of Rs 864.

Investors can buy the stock in dips with a stop at Rs 630. The support below Rs 630 would be at Rs 614.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
When stocks get ‘re-’ or ‘de-rated’

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