Stop loss of Rs 15
Target Rs 35
- We have seen Long roll over in Tata Steel Futures’ where 92% positions being rolled over to the October series with Tata steel gained 0.5% in the September series.
- The stock price has been resilient in the recent market fall and likely to outperform.
- Metal as a sector looking strong on the charts
- The stock price is trading above its important short-term moving averages (5 and 20 day SMA) Indicating bullish trend for the short and medium term.
Disclaimer: The analyst may have a position in the stock mentioned above.