Tata Steel is in the down trend and will come in bull grip only when it closes above the level of 565 for the target of Rs 662 and if this does not happen than stock can fall to the levels of 500-465. where it gets the psychological support. Stock finds resistance at Rs 552 and Rs 572 and as a strategy one can short the share once it fails to cross anbove the level of Rs 549.
State bank of India is finding a strong support at the levels of Rs 1,900 last week, however stock is in down trend for the short term. However one can wait and see if Rs 1880 provides the support or not as it is its key support level which exists at 38.2% retracement. If it finds support than it can make an upmove to the level of Rs 2,500 again. Thus as a strategy go short in stock once it falls below the level of Rs 1880 for target of Rs 1700-1550.
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