Sell Tata Steel, says Shardul Kulkarni

Kulkarni told CNBC-TV18, “Tata Steel is in a good strong downtrend and as of now there is tremendous resistance at Rs 420-422. So I think as the stock does not cross Rs 420 it would be very difficult. On the downside Rs 380-385 is the support band.”

He further added, “Overall the bias for the stock is quite negative. I think one can actually sell the stock at current levels and buy it again at lower levels if he/she wants to, but the chart structure suggests that selling is a better option. You can get the stock at lower levels. So I think that it is better to exit from this particular stock.”