New Year Pick - TATA STEEL

In this New year series I will be bringing you my recommendations on some of the Tier 1 stocks which I feel will be the stars this year. The most attractive of them seems to be Tata Steel. This counter should be on the top of the  radar as far as investment is concerned.

If you have a look at the monthly charts the stock seems to have formed an Ascending tringle. After the steep fall in 2008 the stock doubled in 2009. This year it spent in the consolidation. In the last 5 -6 months it has started its uptrend again & the bull candle in December shows active buying interest.



On the weekly charts also it has formed a 200 points deep head & shoulders. One can expect the stock to provide around 30% returns from the current levels.

Thanks & Regards,

Vishal Surana

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