Home > Market View > Trend Check- Steel stocks

Trend Check- Steel stocks

Friday, August 24, 2007 Leave a comment Go to comments

Steel stocks had fallen lot a during this corrections. This is one of the most volatile sectors.Lets have a look at their current trend.

SAIL– SAIL fell from an all time high of 167 to 135 and is currently trading at 146. The stock has good supports in the 135 region.The stock might try to resume its uptrend next week.First hurdle is at 155 levels and beyond that it might attempt to break 167. On the lower side if 135 gets broken, 125 looks likely.

TATA STEEL– Tata Steel fell from an all time high of 732 to 527 and is currently trading at 583. The stock has good supports in the 515-530 region.The stock is no longer in an uptrend and might move sideways with a downward bias.First hurdle is at 600 levels and beyond that it might attempt to break 650. It might turn bullish again only after it crosses 650On the lower side if 515 gets broken, 470 looks likely.

JSW STEEL– JSW Steel fell from an all time high of 772 to 501 and is currently trading at 572. The stock has good supports in the 500 region.The stock is no longer in an uptrend and might move sideways with a downward bias.First hurdle is at 600 levels and beyond that it might attempt to break 650. It might turn bullish again only after it crosses 650.On the lower side if 500 gets broken, 450 looks likely.

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  1. sagecapital
    Friday, August 24, 2007 at 7:04 pm

    Sai-My only problem with such websites is that these guys do not even bother to tell about their background or “expertise”.I do not believe in endorsing products I have no clue about!If you are committing big money, please take professional help and use your “common sense” 🙂
    And as a friend, I would advise you not to assume that making money by trading is “very easy”.

  2. Sai Rohit
    Friday, August 24, 2007 at 6:55 pm

    Can I trade based on the recommendations given in the web site http://www.xyz.com.

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