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is tata steel at current Market price a good bet for 8-10 months investment?...
is tata steel at current Market price a good bet for 8-10 months investment?...
Tata steel has been a star performer during up move in the market till last month. It has given ample of opportunities to traders while buying at lower levels of 440 and offloading around 475-480. Now it has become a story of past . Today results are due for Tata steel and may be anything. But technically stock looks week and it will show a movement downward .Given below the chart of Tata Steel on weekly basis and on daily basis. if we look at weekly charts then it has reversed after facing a strong resistance of 480-90 of bearish channel line which has been drawn since it high of 998.70 in October 2007 . It has got support many times around 440 level at 38.2% Fibonacci retracement which has been placed in the range of 931 to 148 during May 2008 to October 2008 . Where it has the only support at 330 level which is the 23.6% Fibonacci retracement in the same range.
While we are looking on daily charts then it has crossed below the 61.8% Fibonacci retracement which has been place in the range 502-331 during the up move of January 2012 to the end of feb 2012. Now it will get the support only around 330 according to daily charts too.
On moving average front it has made a crossover of 21 days EMA and 100 days EMA and trading below both of these . SO my view is on sell side whether results come positive or negative as I think market discounts everything so the Tata steel . It has been outperformed the market during last 3-4 months and a correction is further due in the stock to come to its correct value. If you find it around 330 then Investors who want to accumulate the Blue chips can accumulate for long term which will a value buying. rmoneyguru.blogspot.com...
Dear Sir ,
its good to see your post after long time .
Happy to know that you are back to corporate sector now !
Wish you best of the things in life .
regards ,
sd3....
Dear Zorro, sorry for the delayed reply but I visited MMB after ages and just saw your post. I am out of the market since a long time and not trading either. I was on my own for years but went back to the Corporate sector, little spare time now. All my friends have disappeared from MMB and the new MMB sucks.
The market is currently weak and I feel last years low will get violated. Subsequently we have to evaluate where we stand. The global financial system looks very shaky, with this weak foundation there is negligible scope for a new bull run. Currently I prefer to earn 8-10% return from Debt rather than stick my neck out and take risk.
Hope all is well at your end with the grace of the Almighty. Keep well and Good Luck !
Goldchest...
Buy Tripton Corp at 0.24-0.30 as many as you can...
it will touch 3.00-3.25 in the next 2-3 months time..
sure shot PROFIT.,...
In a LIMBO?
I don`t invest in derivatives ? I don`t like Gold? Real Estate looks fairly priced?
What`s best investment under the drought times?
Any guess with good reasoning are welcome?
I believe this is best way for me do random pick like monkey?...
The market conditions are favourable for stock picking....at these evaluations.....which are likely to further go down...and as I say....
Cheap equity prices and good news don’t go hand in hand, but equities will create wealth over the long term......go for a three yr horizon to start with.......
The S&P announcement on downgrading the outlook on India’s lowest investment grade credit rating. By and large, I think it is a reasonable decision. I am not ‘shocked‘. It is interesting that the linked BS article talks of Indian FinMin officials expecting an upgrade. That shows how far they are out of touch with market perception of India and how far their government has contributed to it in the last twelve months.
S&P had laid down markers for the credit rating to stabilise:----
The ratings could stabilize again if the government implements initiatives to reduce structural fiscal deficits and to improve its investment climate. Fiscal measures could include an increase in domestic prices and a more efficient use of fuel and fertilizer subsidies, or an early implementation of the goods and service tax....
I feel long term investment strategy is best. Fundamental dekh ke invest karo boss bahot paise banaoge.. day trading ka utaar chadaav sehna mushkil ho gaya hai aj kal. ek site hai stock investing ke saare raaz khol diye buss. ab se no tips, no intra day. buss long term main hi. thanks for letting me share opinion guyzzzz...
