Tata Steel may test Rs 480-485: Chandan Taparia

Chandan Taparia of Anand Rathi Financial Services is of the view that Tata Steel may test Rs 480-485.

Chandan Taparia of Anand Rathi Financial Services told CNBC-TV18, "We are buying Tata Steel  as the risk reward ratio is now attractive. Earlier the stock was finding hurdle near to the Rs 440 and as it crossed Rs 440, it headed towards Rs 580 levels. But recently in last 6-7 series the stock is not performing and is now near to the major support of Rs 440."

"We are observing such Put writing at Rs 440 strike which also indicating that now the stock may turn and change its negative trend and heads towards Rs 480 level. So looking at that scenario we are expecting Tata Steel to again move up and keep the stoploss of Rs 445 and
trade for the target of Rs 480-485," he said.

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