Buy Tata Steel; target of Rs 443: IIFL

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Buy Tata Steel; target of Rs 443: IIFL

IIFL is bullish on Tata Steel and has recommended buy rating on the stock with a target of Rs 443 in its September 30, 2011 research report.

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IIFL is bullish on Tata Steel and has recommended buy rating on the stock with a target of Rs 443 in its September 30, 2011 research report.

"Tata Steel has formed double bottom pattern on the daily line chart and has bounced sharply from the support of Rs418 in yesterdays trading session. The volumes during the second dip towards Rs426 remained comparatively lower which indicates lack of delivery based selling at lower levels. The upside projection for the stock is placed at Rs 468 and which should also get accomplished in coming weeks. We recommend buying Tata Steel in the range of Rs 425-427 with stop loss of Rs 419 for target of Rs 443.(Duration 7 days)," says IIFL research report.  

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