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May 08, 2012, 03.29 PM IST
Amit Harchekar of IIFL is of the view that Tata Steel may slip to Rs 390.
Amit Harchekar of IIFL is of the view that Tata Steel may slip to Rs 390.
Harchekar told CNBC-TV18, “Earlier it was Bank Nifty which has seen a significant decline since last couple of weeks. It has formed short-term bottom close to 9,500 but the next down move would resume from the metals especially Tata Steel or Hindalco . Tata Steel is looking extremely weak on charts; it has given a break down signals below Rs 450 levels and its heading towards Rs 390 in the near term.”
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