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Tata Steel may slip to Rs 125: Bose
Technical Analyst, Rajat K Bose is of the opinion that in Tata Steel Rs 171 to about Rs 165 would be the level to watch out for. If this range gets broken then it might head for Rs 150 or even lower and medium-term projection for the stock would be much lower, it may head for Rs 125 kind of levels.
Technical Analyst, Rajat K Bose feels that in the medium term Tata Steel may slip to Rs 125.
Bose told CNBC-TV18, "In Tata Steel Rs 171 to about Rs 165 would be the level to watch out for. If this range gets broken then it might head for Rs 150 or even lower and medium-term projection for the stock would be much lower, it may head for Rs 125 kind of levels. But before that may be we will see a good rally on the upside but that may happen somewhere between Rs 150-155 range."
He further added, "If you look at SAIL similar situation prevailing out there, only Bhushan Steel is showing a bit better technical position. But I would say that as of now, it would be better if you have to look at metal stocks and you look at them towards the end of this November clearing and may be you will get better prices to go long for."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
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