Tata Steel now Just in 100 Rupees, can we Buy?

  • Stock Market Analysis
  • Editors Pick

Friends, today we are going to discuss one of the leading and trusted company that is TATA STEEL (NS: TISC ) Ltd. Recently the company has split the share by 1:10 and increased share quantities. The share price was around 980 and it started to trade at around 98 rupees. Now new long-term investors will attract to this price and start to invest in it. As per our view, current levels are good for investors, let's focus on technical charts and fundamentals.

Monthly Chart: On the major time frame price is trading in a downtrend and continuing the downward channel as shown in the below chart. However, if we compare the last two weeks candle then there is a Bullish Engulf that has been confirmed. That is a good sign for up moves, the stock currently trading near the resistance of 108-110. Once it crosses then we will see the levels of 120/122 in a few days. Still, the stock price needs to break channel for big up moves.
TATASTEEL_12022-08-07_18-17-41

Weekly Chart: After taking the rest of 4 weeks stock price has shown a good rally in the last week and confirmed Morning Star. Before going up we are expecting some profit booking then it will go up. If the price comes down near 100 then it will be a good opportunity to accumulate the shares.

Fundamental: The company has a presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products. The business line is good and products are demanding in the future.

  1. The company is on the second rank in the steel sector.
  2. Net profits are increasing quarterly & yearly.
  3. The company is increasing its assets.
  4. The cash flow is very strong.
  5. 75% of shareholders are Promoters, FIIs, and DIIs.
  6. Return on equity is around 42%.
  7. Stock is providing a good dividend yield of 4.75%.

ORIGINAL POST

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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100
  • Prem Gupta @Prem Gupta
    85 buying rate
    Like 6
  • Gsk Sathishkumar @Gsk Sathishkumar
    No i expect 80 to 90 Rupees for buying mode
    Like 6
  • Gsk Sathishkumar @Gsk Sathishkumar
    No i expect 80 to 90 Rupees for buying mode
    Like 3
  • Prerna Kadde @Prerna Kadde
    What is Target of tata steel in August??
    Like 3
    • Ramesh Vemishetty @Ramesh Vemishetty
      103
      Like 5
    • Chandan Nasta @Chandan Nasta
      If I need to buy then now its Rs 107. At what rate should I buy and will it faill to that rate or not?
      Like 3
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      100
  • Laloolal Bharatiya @Laloolal Bharatiya
    very true
    Like 1
  • Ke Ra @Ke Ra
    Dude - split kar diya to buy kar lo what a fool
    Like 11
  • Vikky Donar @Vikky Donar
    and sold at 111 after spliting , Sagar sir again u give a confidance to buy on near 100 thnx a lot for ur kind attention
    Like 0
  • Vikky Donar @Vikky Donar
    bought at 838
    Like 7

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