Equity Technical Pick - TATA Steel 14 Sept 2016

Short Term Positional Call - TATA Steel

Buy and Hold TATA Steel - CMP - 373.90

Morning Doji Star Formation.

After poor results of Quarter 1, the stock rises again, forming a Morning Doji Star, indicating Buyers entering the market and reversal of downward trend.

Target 403---407

Stop Loss 355

With negative company Financial Ratios, it still dominates the market. The recent downfall was noticed due to reduced demand of Steel worldwide. The stock can be held for a long term period and expected to give good returns.

Reaching the level of 403-407, the stock might correct and then start to rise towards next target of 430+.

Week only below 355.

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