Tata Steel

25/09/2011 19:21

The activity in the stock is high in last few days, especially from Aug 11.  The stock is being sold with rising volume, that to opening in some instances with gap down.  It seems that some large investors have been off-loading the stocks.  It is near to its previous low.  In case that low is violated convincingly, then the on going down trend will vigorated.    

In terms of RSI at 34, the downfall could bring it to 20 where it may take cushion.  But it may remains there for long time depending on the overall market condition.

The downtrend may collapse the share price as low as Rs 340.