• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• 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 moved lower in the second half of last week and is currently poised delicately on the support at Rs 800.

This level will be keenly watched over the next few sessions since the 50-day moving average line is present here.

However, we expect the stock to move lower in the medium term towards Rs 700. Sell signals in both the daily as well as the weekly momentum indicators corroborate this view. Low volumes too reflect the lack of strength.

Traders can short the stock in rallies with a stop at Rs 865. Breach of the support at Rs 800 will drag the stock lower to Rs 742 in the short-term.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
What gives gold its glitter

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