Hey Jai,
What are your thoughts on Tata Steel? I have @528 and it has not given much movement in the past week or so in fact it has shown some weakness. CMP is 507. I can accumulate if you see an upside in the near future. Thanks.
Also wanted your thoughts on Gitanjali Gems. The stock has moved up quite a bit in the last couple of trading sessions hitting circuit more than twice in the last week. Do you advise getting into the stock at these levels as word on the street is that the near term tgt for the stock is 250. CMP 203-206. Thanks once again.
Tata steel will give a solid buy oppurtunity between 455-490 levels. A bounce back from these levels will take it to 540/570 levels. Above 575, levels are 615 and above 620 is 660. A fall below 450 will take it to 400.
So you should probably buy tata stl between 455-490 and keep a strict stop loss below 450.
For gitanjali, I cannot say that 250 is a sureshot target, however 220 is achievable for sure. You can enter now, but it's going to be a little risky to enter so close to the target. However if you are insistent to enter, then buy at current levels (205) with a stop loss of 180 for target 220/230 and then if possible, 260
Jai Shewaramani
