Thursday, 6 November 2008

Tata Steel has support at Rs 150: Guppy

Daryl Guppy, Founder and Director of is of the view that Tata Steel has support level of Rs 150.

Guppy told CNBC-TV18, "Tata Steel is going down rather than continuing up, the rebound is now retreating into a retracement rather than continuation or a rebound; the stock had fairly solid resistance levels at around Rs 280, good support seeing at around Rs 150 and we expect this downtrend to continue to test that support level of Rs 150. We need to look at consolidation at that level before there is any potential for any change in the trend."

Source: Moneycontrol

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