Tata Steel may test Rs 680-700: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "From August 2013 most of the metal stocks especially Tata Steel is showing a very strong uptrend. It is showing a multi month or multi year uptrend and this is probably the second phase where the uptrend is taking a consolidation. I believe the ideal strategy over here should be to position your view from a longer term perspective."

"In Tata Steel the levels of Rs 680-700 could be a fair possibility in the next one-two years, so I believe the consolidation may end in the next couple of months, levels of sub Rs 500 can also be achieved and that could be a very good support zone for Tata Steel but from a longer term perspective that could be a good entry point," he added.