Technical Analyst, Rajat K Bose is of the opinion that Tata Steel can touch Rs 330.
Bose told CNBC-TV18, "If Tata Steel is an investment, I would say, you need not worry about much because Tata Steel after forming a base for about six months, it has actually moved up. In 40 calendar days right from a low of Rs 148 yesterday it went to a high of Rs 199 and today also it has moved up but a stock that has moved up nearly 100% or even more in 40 calendar days and being a largecap stock there is some risk buying it here."
He further added, "If the stock manages to sustain above the Rs 293-295 range then there is a possibility that it may actually move up to test its 200 day moving average around at Rs 330. So beyond Rs 299 the target would be Rs 330 if it is a trading stock and if it is investment then just hold on."
Disclosure: Analyst doesn't hold the above stock but his clients might have holding.
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