Tata Steel may test Rs 264.75, says Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "There is a possibility that Tata Steel can go up. The moving average that I closely watch for a buy signal is 89 day exponential moving average and Tata Steel for the first time in many months have successfully cleared that and boosted a close comfortably above that. So I feel that Tata Steel is likely to move up and I have put a stop loss below Rs 252.90 and the targets are Rs 261.50 and Rs 264.75." "Although I have kept higher target of Rs 264.75 but in my reckoning I have a feeling that if the Nifty doesn't take a tumble, Tata Steel could well go up to Rs 279 in the near future, maybe in the next week but as of now for today Rs 264.75 suffice as a good target," he said.