• 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

Tata Steel stock moved in an extremely narrow band between Rs 145 and Rs 165 in the four trading sessions last week.

Short-term view on this stock remains negative. A decline to Rs 136 or Rs 100 is possible in the near term.

However, fresh shorts should be initiated only on a decline below Rs 145. Resistance in the week ahead would be at Rs 190 and then Rs 212.

The medium term view on the stock is also negative. But a recovery from Rs 150 can cause a range bound move between Rs 150 and Rs 250 for a few more weeks.

Conversely, a close below Rs 136 will drag the stock to double-digits.

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