Buy Tata Steel on minor correction: Sukhani

Aug 20, 2013, 05.54 PM IST

Sudarshan Sukhani of s2analytics.com is of the view that short-term trader may buy Tata Steel on dips. "One has to wait for Tata Steel to build a strong base and then eventually breakout on the upside to invest in it," he adds.

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Buy Tata Steel on minor correction: Sukhani

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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "If one is looking for an investment opportunity in Tata Steel this is too early. One has to wait for Tata Steel to build a strong base and then eventually breakout on the upside. It could well do so, but that will take weeks if not months."

He further added, "For the short-term trader a correction or a minor dip in Tata Steel represents a buying opportunity because the trend here is up while the Nifty is coming down. It has strong relative strength. I would be a buyer. Much easier way to trade Tata Steel would be to simply buy calls for September tomorrow if there is strength there."

Harmonis Hubungan