Buy Tata Steel on dips, says Gopi Suvanam

Gopi Suvanam, Founder of InvestWorks told CNBC-TV18, "Tata Steel would be trading in a range, I don't think it would retest Rs 370 again. I think somewhere in between Rs 380-420 would be the range that it would be trading in. A lot of good news has been factored in, at the same time lot of bad news has also been factored into the price. So I think this range would remain for sometime and there is not a big built-up of positions also this month."

"So whenever it touches around Rs 380 level I think that could be a good level where investors can start building positions. If it goes to Rs 410-420 odd levels again although that may not be likely in this series, but if it goes to that level that may be a level to short. So this is a buy on dips kind of a stock," he added.