Jai Bala bullish on Tata Steel

Jai Bala of cashthechaos.com told CNBC-TV18, "Tata Steel is presenting excellent trading opportunity at this current juncture and I am very confident that Tata Steel is going to cross 52-week highs. If you recall in September the stock had put in a medium term low around those levels and then it has moved to new 52-week high. It is a very similar situation at this point in time. The BSE Metal index is set to see 10100, so that is a space to be in.”

He further added, “Tata Power is not looking that attractive at this point in time, it is up for further lows before we can talk about a durable bottom to come through. So I am bullish on Tata Steel and slightly negative on Tata Power.”