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25 Oct 2009

Indian share market tips for day trading | Tisco | 25-30 Oct


Tata Steel is facing stiff resistance at the levels of Rs 561 and same can be the trend decider level. In case this level is taken with volume than stock can target the levels of Rs 675 on upper side and if broken the stock can fall to the level of Rs 550 and if the level of 539-528 is broken than the stock can fall to Rs 500-485 levels.

We retain the view that traders ought to remain cautious until the stock records another close above Rs 580.

Thus one can safely assume that the long term trend reverses if stock closes below the level of Rs 495.

As a strategy one can short the stock below the level of Rs 569 for the target of 550-539-528.


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