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11 Jan 2009

Indian Share Market Tips| Tata Steel | SBI | ONGC | 11 Jan- 15 Jan

1. TISCO is presently enjoying a sideways movement. As a strategy one can short the stock if it breaks the level of Rs 199 from where the stock can target the level of Rs 192-182. As a long term strategy one can hold this stock with deep stop loss as Rs 139.

2. SBI has strong support in the level between Rs 1,200 and Rs 1,25. As a short term strategy one can go short once the stock trades below the level of Rs 1139 from where it can target the level of Rs 1000-Rs 750. If stock is bale to break past 1250 level than one can see it touching the levels of Rs 1,260-Rs 1,300.

3. ONGC has resistance at Rs 740. However it appears that stock is in bear grip and thus can target the level of Rs 668-627-538. As a strategy one can go long only if the stock moves past the level of Rs 671 and remains so on closing basis. As a strategy one can short this stock if it closes below the level of Rs 626.

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