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21 Dec 2008

Indian stock market trend analysis: Tata Steel | 22 Dec – 27 Dec

1. Tata Steel needs to break past the level of Rs 251to be able to target the levels of Rs 261 or Rs 296. As a strategy one can go short if the stock moves below the level of Rs 199 as thereafter the stock can target the level of Rs 180.

2. Medium term outlook for the stock is not clear and trend will be clear only if it moves past the level of RS 251. Charts suggest that stock is likely to oscillate between the band of Rs 150 and Rs 250.

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