Prakash Gaba of prakashgaba.com advises buying Tata Sponge Iron.
Prakash Gaba of prakashgaba.com told CNBC-TV18, "One can buy Tata Sponge Iron here, have a stoploss below Rs 750. Only thing is it looks like a base formation."
"The first technical target is Rs 850 and then beyond that Rs 900 zones. So looks okay to me. Just have a stoploss below Rs 750. You have got to buy it at some place and protect it with a stoploss, "he added.At 15:14 hrs Tata Sponge Iron was quoting at Rs 822.90, up Rs 10.25, or 1.26 percent on the BSE.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.