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You are here : IndiaNotes >> Research & Analysis >> Companies >> Tata Steel Ltd. >> Research

Technical View: Buy Tata Steel

Rushabh Shastri | 19 Dec, 2014  | Follow Author | Add to my Favourites 
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The simple horizontal trend line study suggests that the stock is taking huge support at Rs. 400.

Besides this, as per Fibonacci study also the stock is forming 50% retrenchment at Rs400 level.

Due to multiple study conformation at Rs.400 area one must look to buy this stock with proper stop loss.

Recommendation: Buy Tata steel above Rs.408 with a stop loss placed at Rs.397 closing basis.

Disclaimer: The author is not a registered advisor with SEBI but the study is based on best of technical study rule. Main purpose of this study is not to advice investors but to guide them.

650.75 +2.50
651.30 +2.45
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About Rushabh Shastri

The author professionally trades-invest in Indian equity market on behalf of clients with client consent.He has completed his MBA-Marketing from Gujarat University with CTA ( Certified Technical Analyst) from Innobuzz- India, and has been in the field of stock markets for the last six years. He guides clients for various investment-trading instruments viz. Equity, Commodity, Forex.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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