Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Tata Steel seems to be finding support maybe it will come down today, but around Rs 340-350 it becomes a buying opportunity."
"There was a big rally in Jindal Steel and I thought maybe this is a bear market that is getting over, but that rally has gone into a very deep decline. It could be a sharp correction or it could be a renewal of the downtrend. Difficult to say but it is a selling opportunity; three days of rallies and big breakdown yesterday. It was a bearish flag. Look to go short in it," he added.
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