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Last Updated : Dec 29, 2015 11:59 AM IST | Source: CNBC-TV18

Book profits in Tata Steel, says Rajat Bose

Rajat Bose of is of the view that one may book profits in Tata Steel.

Rajat Bose of told CNBC-TV18, "In Tata Steel Rs 267-279 is a zone that I was closely eyeing at and Tata Steel momentum seems to be faltering and may not really go beyond that zone, so possibly, there will be another round of mild downswing, in that if it does not fall below Rs 240, great. If it does, then maybe lower lows may be formed. But, as of now, the pull-back rally in Tata Steel, I would say that it would be better to actually book profits."

He further added, "Vedanta is not something that we would look at this point in time because every time the stock tries to rise, Rs 93-94 becomes a bear and it fails to cross that. When it posted a rally in the three digits, this was the level once crossed with huge volumes one particular day, I saw it getting into the triple digits, but that is not happening now anymore, so charts are not suggesting that you can get into metals even now."

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First Published on Dec 29, 2015 11:57 am
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