Buy Tata Steel shares for a target of Rs 180: Kunal Shah, LKP Securities
Tata Steel shares, which hit a fresh peak of Rs 156 on BSE, have shown a powerful breakouhavet on the daily chart, accompanied by a notable surge in volumes. “Additionally, the formation of a Morning Star pattern, a bullish reversal candle pattern, indicates strong support for the stock. The momentum indicator, RSI, has also provided a buy crossover, confirming the bullish undertone in the stock,” says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
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Offering CollegeCourseWebsiteIIM LucknowIIML Chief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitFollowing the directional move seen on Friday, how has your view changed on Nifty's trajectory for the March series?
The overall outlook remains bullish, contingent upon the index maintaining its position above the key level of 22,200, previously a significant resistance point. There is an optimistic perspective that the Bank Nifty index could play a leadership role in the ongoing rally, potentially surpassing its all-time high and reaching levels beyond 48,500.
Largecaps have now begun to outpace small and midcaps amid all the news flow around Sebi's letter to AMFI. Are the charts indicating that this could be the beginning of a slowdown or even a deeper corrective phase in smallcaps?
The long-term charts for both mid-cap and small-cap segments suggest an upcoming phase
