• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The chart pattern in Tata Steel is similar to rest of the pivotals. But this stock has closed below the key support level at Rs 180.

A weak opening next week will mean an imminent decline towards the recent trough at Rs 150.

An upward reversal is possible from here and the stock can then fluctuate in the band between Rs 150 and Rs 250 for a few weeks.

Traders can watch for a rebound around Rs 150.

However if this support is penetrated, Tata Steel can move lower to Rs 136. Investors with a medium-term perspective can hold with a stop at Rs 135.

Subsequent support zone on the chart is in the zone between Rs 100 and Rs 110.

More Stories on : Technical Analysis | Stock Markets

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

Copyright © 2008, 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