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11 Oct 2009

Free Indian share market tips for Tata Steel | 12-16 Oct

TISCO has a key support at the levels of Rs 489 and same has been preserved so far. Stock is likely to be range bound in recent times between Rs 490-Rs 550. Stock has an uptrend in the medium term.

Stock can reverse from 550 levels and thus caution has to be exercised and can fall to the levels of Rs 489.

Thus as a strategy one should go long only if stock closes above the level of Rs 551 as thereafter same can head for Rs 560-Rs 580.

Thus a strategy for the medium term; one can have a stop loss as 489 for the share and in case stock breaks out past 551 level than one can see stock touching the levels of Rs 660.

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