Tata Steel Ltd

NSE :TATASTEEL   BSE :500470  Sector : Steel

Tata Steel has sprung a surprise in FY21, after close to a decade of struggle with high debt and stagnant revenues. For the first time since its debt-fuelled acquisition of Corus (now Tata Steel Europe), revenues grew faster than liabilities in the last financial year, raising hope of a sustainable turnaround in its balance sheet and stock performance.

What’s Ahead? Technical outlook of TATASTEEL:

TATASTEEL is the stock of year 2021, stock has outperformed Nifty Index, As metal sector is shining TATASTEEL is the stock to bet on. Stock has been consolidating in a range since 20th May 2021 and yesterday in Friday’s trading session it saw an up move and closed with gains of 4% with volumes. Comparative relative index has shown signs of breakout in the stock. We recommend Intraday traders to go long on the stock above 1165 for target of 1197, Stop loss should be placed below 1145.00