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Tata Steel was also moving in a narrow range just above the long-term average line.

The near-term trend in the stock is looking bright, since it reversed from the trough at Rs 557.

Continuation of this up-trend can take Tata Steel higher to Rs 830 or Rs 858. But the stock will have to move past the resistance at Rs 860 to signal that it is proceeding towards a new high.

In the week ahead, the supports for Tata Steel would be at Rs 698 and then Rs 675. Short-term traders can buy the stock in corrections, as long as it holds above the second support.

The spurt in volume on Friday points towards continuation of the short-term up trend in the stock.

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