Tata Steel: The outlook for the stock remains to be weak again for the week ahead. Only if the stock manages to cross the levels of Rs.498 in the near future it has some positives for it in the medium term. At the current levels of Rs.438 the immediate support is Rs.39. In case the stock manages to close below those levels a fresh trigger of sell offs may be witnessed bringing the stock down to lower levels where it finds the immediate support levels of Rs.450. On the F&O side the October futures has witnessed fresh accumulation of short positions. Option trading indicates negative bias as calls accumulated open interest positions.
Jaiprakash Associates: For the stock which has rallied up to the higher levels with a rally in the last week the outlook seems to be neutral for the time being the stock is expected to move in the range of Rs.67-86 range. A close anywhere above Rs.85 could see a further rally in the stock going up to the levels of Rs.100 in the medium term. The stock had seen accumulation of marginal short positions. Option trading is also indicating a neutral view on the stock. The stock presently has a strong resistance at Rs.75 whereas has an immediate support of Rs.65.
Bell the Bull says: Our outlook on Tata Steel remains to be negative whereas its neutral for JP Associates