Tata Steel can correct to Rs 300: Tulsian

Written By Unknown on Sabtu, 04 Mei 2013 | 16.02

SP Tulsian of sptulsian.com feels Tata Steel can correct to about Rs 300 in next week to 10 days. He advised going short in the stock.

Tulsian told CNBC-TV18, "I have gone short on Tata Steel because I do not see any reason for these ferrous metal stocks having moved up last week. The metal index has moved up because of the European Central Bank (ECB) cut rate by 25 bps and that has seen all the ferrous metal stocks having moved up. Tata Steel can correct to the level of about Rs 300 in next week to 10 days. So those who want to have a positional short can go short on that."

The stock gained 2.22 percent to close at Rs 311.20 on Bombay Stock Exchange on Friday.



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