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Friday 22 March 2013

Tata Steel– New 52 week low

Dear Readers

I had covered Tata Steel right from 400 levels till 330 and was maintaining bearish view. 330 was a crucial support level We did several successful day trades on the short side.

On Thursday, 21 March, Tata Steel closed below this support and has touched a new 52 week low. This is a very bearish sign for the stock and , the fall was supported by high volume during the latter part of the day. Next target is 305 if stock sustains below 325 levels. Medium trend will become positive only above 340.



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