The stock has been trading above the 20, 50, and 200 Day EMA levels consistently, demonstrating the stock's strength. JSL has a good base between Rs 250-255 levels. Sumeet Bagadia, Executive Director, Choice Broking said, "From July 2022, the stock has been creating higher highs and higher lows constantly on the monthly charts. Investors should book profits at current levels and wait for lower support levels of Rs 218- Rs 230 to initiate fresh buy positions." Hence, one can hold short position with a stop loss placed at Rs 121 for a target between Rs 104 and Rs 96 levels in the next couple of weeks."Ībhijeet from Tips2trade said, "Jindal Stainless has a strong resistance at Rs 269 on the Daily charts. The scrip has taken support at 150-day SMA (Rs 107) and is seeing a pullback rally. Mileen Vasudeo, Senior Technical Analyst, Arihant Capital Markets said, "The stock trend remains down. The Q3 earnings results also come negative,” said Singhal. The stock has been making lower lows and lower highs on the charts. “Tata Steel stock looks weak for a target of Rs 95 with a stop loss of Rs 121. However, Ravi Singhal, CEO of GCL is bearish on the stock. A close above this level could be bullish and lead to targets of Rs 122-128 in the near term. We remain positive on Tata Steel and maintain our BUY rating with revised target price of Rs 133,” the brokerage said.Ībhijeet from Tips2trade said, "Tata Steel has a strong resistance at Rs 113 on the Daily charts.
Tata Steel's overall consolidated sales volumes are expected to 0.5 MT, higher compared to Q3FY23.
122 ema stock full#
During the quarter, the company witnessed the full impact of correction in steel prices after the imposition of export duty in India. “The company is among the most geographically diversified steel producers in the world and is one of the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum and has operations and commercial presence across the world. Here’s a look at the outlook of Tata Steel and Jindal Stainless shares in the long term.Īnand Rathi has maintained its buy rating on Tata Steel with a target price of Rs 133.
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