Buy Tata Steel, says Simi Bhaumik

Simi Bhaumik of simibhaumik.com told CNBC-TV18, "Tata Steel may not be looking quite attractive on technical parameters but it is forming a bottom. I think breakout would come once it clears Rs 265-270 range but that will take time for sure. This stock as of now is making its bottoms, Rs 220-215 is the support and Rs 255-275 is the resistance."She further added, "This stock is there in my portfolio and one should continue to hold the stock and if he/she wants. I think stoploss should be below Rs 220 if one wants to buy here. If anybody is buying here at these levels, at Rs 230-231, stoploss should be below Rs 210 and one can expect a target of Rs 255 to Rs 275 going forward but one has to hold it for some more time."