TATA Steel share price tips 2014
TATA Steel stock short term technical view
TATA steel stock on last trading session closed at 440.75 with gain. On daily chart stock price trend and momentum both are strong bullish. From short-term view, 448 and 467 are strong resistance levels on upside while 427 and 408 are strong support zones on downside. 388 rupee is major short-term average level and above it, traders must keep buy on dips view for this stock. Daily chart indicator patterns are mixed suggesting correction and consolidation ahead.
At current level, risk reward is not favorable for fresh long positions. However, those brought on lower level must trail stop loss at 427 on closing basis.
TATA Steel stock medium term technical view
TATA steel stock this week closed with gain. This will be third gaining week for stock. On weekly chart stock price trend and momentum both are strong bullish. Stock has achieved its medium term target at 465. On downside, 380 and 305 rupees are strong support zone. 380 rupee is major medium-term average support zone and above it, investors keep buy on dips view. On upside 465 and then 540 rupee are strong resistances as well as target levels for next 6to 12 months. Weekly chart indicator pattern are bullish so above 380 rupee keep buy and accumulate view for upside targets in medium terms.
TATA Steel stock long term technical view
TATA steel stock in last 6 months had given 19% returns and performing inline with market. Fundamentally and by valuation means stock looks expensive but as momentum is strong so may continue to gain ahead. For investors 370-390 rupee level is major support zone on monthly closing basis. Above it, keep long view for stock and 550 rupee will be target for next 12 months and 710 rupee is target for next 3 to 5 years period. On downside, 235-250 rupee was best buy zone and last seen in 2013. While 80-110 rupee was undervalued zone and which was last seen in 2003.
TATA Steel company description
Tata Steel Limited is a manufacturer of steel and steel products. The Company’s Global Wires Business consists of Steel’s Wire Division in India, Siam Industrial Wire in Thailand and Lanka Special Steels Limited in Sri Lanka. The Company’s product includes Hot Rolled Coils; Cold Rolled Coils and Galvanized Coils; Wire Rods and Rebars. The Company’s Tata Growth Shop (TGS) is a multi disciplinary engineering complex that designs and manufactures heavy engineering and material handling equipment including special purpose Electric Overhead Travelling Cranes. The Company’s Agrico division product range includes Hoes, Sickles, Crowbars, Shovels, Pick Axes, Hammers and others. The Company’s segment includes Tubes, Bearings, Refractories, Pigments, Port operations, Town services and Investment activities. In January 2014, the Company opened the profiling centre for steel plate in the West Midlands, increasing its plate processing capacity in the region by up to 50%.
TATA Steel stock fundamental ratios
|Range||453.50 – 474.35|
|52 week||195.30 – 485.85|