Buy Tata Steel, advises Kunal Saraogi

Kunal Saraogi of Equityrush told CNBC-TV18, "Tata Steel has formed a base, it has broken out on the charts. The stock can be looked at but one should be very vigilant about stop losses in this case. The level of Rs 360 is where one should put a stop loss and definitely can venture a buy on this one."

At 14:29 hrs Tata Steel was quoting at Rs 368.35, up Rs 17.20, or 4.90 percent. It has touched an intraday high of Rs 368.80 and an intraday low of Rs 354.50.

Disclosure: Analyst does not have any positions in the stock.