Buy and Hold Tata Steel for 4-5 weeks between 500-504, target- 556, stop loss 470.0

On Friday, Tata steel has closed at Rs. 473.8. The stock has started to correct from around the 700 mark and made a bottom at around 470 levels. The stock has consolidated at current levels over a month. The technical indicators indicate an up move from current level. We expect the stock to see further up side from current levels. Hence, we recommend a buy on this stock between Rs. 500-504 with a target of Rs. 556.0 over the next 4-5 weeks. Stop loss can be put at Rs. 470.0

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