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Tata Steel gained 13 per cent last week and closed the week above the resistance at Rs 910. The short-term outlook has turned positive though the medium-term outlook is neutral. The stock is still confined within the medium-term trading band between Rs 800 and Rs 970. A firm break-out beyond either boundary is required to set the medium-term direction for the stock. Investors have nothing to worry as long as the stock stays above Rs 750.

The stock could move up to Rs 954 or Rs 970 in the week ahead. Traders should watch out for turbulence as the stock nears its former peak. Supports will be available at Rs 846 and then at Rs 811.

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