Buy Tata Steel , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Jain Irrigation charts is suggesting of reaching towards Rs 100 eventually. The first intraday target could be Rs 92, which means that the stock is likely to go up. If there is a kneejerk reaction again today then I would treat that as a buying opportunity."
He further added, "I would be a buyer and the reason is that Tata Steel bounced back from the lows that it created suddenly when it saw its financial reports. We have seen this pattern build in many of the other companies this time when the first reaction was that the world is coming to an end and then the stocks starts moving up on the same day, a classic example is Bajaj Auto. The chances are that Tata Steel is doing the same thing and if that is so then we are buying virtually at the lows of what could be a very interesting upmove. Tata Steel is a buy. For short-term traders there is a target of Rs 425 where there is resistance and once that is crossed higher levels are possible."
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