1. Tata Steel has surprised the analysts by posting better than expected results. Tata Steel has strong support near the level of Rs 157. Tisco resistances exist at Rs 175-Rs 182. One can be bullish on the stock in short term once it crosses above the level of Rs 183 as thereafter the stock can target the level of Rs 198.
2. Stock has a down trend in offing in the medium term unless better than expected results provide the necessary stimulus. As a strategy for long term investor one should go long only once it crossess above the 200 level.
3. ONGC has a weak trend in offing and enjoys support at the levels of Rs 657. ONGC has further resistance at the level of Rs 750. In case stock breaks the level of Rs 657 than it can fall to the level of Rs 660 or Rs 615.
4. As a strategy one can be positive on ONGC only if stock moves past the level of Rs 750. Stock can fall to the level of Rs 550 if stock is not ale to sustain above the level of Rs 661.
1 Mar 2009
Indian Stock Market Giants | Tisco and ONGC | 02-06 Mar
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