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28 Dec 2008

Indian Share Market Tips: TISCO, SBI | 29 Dec- 02 Jan 2009

1. Tata Steel has short-term supports at Rs 202- Rs 180. If Rs 202 support3is held than the stock can target the level of Rs 265- Rs 300. Thus as a strategy one can buy this stock for short term till Rs 199 level is not broken. However a word of caution for this Indian stock is that its medium term trend is down. Stock has a key resistance at the level of Rs 250 and thus stock has to move past this level to be able to move towards Rs 300 level.

2. State Bank of India has short term uptrend indications as per the charts and thus can target the levels of Rs 1,380- Rs 1,425. As a strategy one can hold this stock with stop loss of Rs 1189 and with deep stop loss as Rs 1119 which if broken means that stock can target the level of Rs 1000. Stock has a key resistance at the levels of Rs 1,380 and Rs 1,420. Its trend can be announced as up if the stock is able to move past Rs 1421 levels.

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