Tata Steel can move upto Rs 380- 385, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.
Thukral told CNBC-TV18, "Metals has been one space where short covering is still due because the way the shorts were aggressively rolled I have not seen any major short covering neither in Sterlite , Tata Steel or SAIL . So if I would have to take a bet that market is to move up which I think then the short covering is very much due in stocks like Tata Steel. So I think Tata Steel can move up back to Rs 380- 385 levels. So that is one counter I will be watching very carefully."
He further added, " Jindal Steel & Power has moved not at all, I think there are huge shorts which are still pending in that side of the business. So metals till now no major short covering are seen but I would be looking around for Tata Steel for buying opportunities at dips for a target of Rs 380-385 on it."
