• 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

Tata Steel struggled valiantly to hold the support at Rs 800, indicated in our last column. This resulted in a volatile move between Rs 800 and Rs 900. The short-term outlook for the stock stays negative. Tata Steel is expected to move lower to Rs 760 and then to Rs 710 in the medium term as the third part of the current down move unfolds. Traders can continue to short the stocks in rallies with a stop at Rs 900.

The medium-term outlook is positive. But a fall below Rs 760 will negate this view. Investors can exit the stock once it moves below this level.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Earn, and yearn, for each other!

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