Tata Steel Share Price Manages to Close Above Rs 150; Kunal Kamble Suggests BUY Call
Tata Steel share price has bounced back from 52-week lows and the stock has given a bullish breakout recently on the technical charts. Tata Steel stock has also been helped by strong demand for steel in the international markets and China's production cuts. Steel sector could see a rerating in case the prices in international markets remain firm. With a market capitalization of Rs 1.88 lakh crore, the company's stock performance and technical indicators provide valuable insights for stakeholders. TopNews Team has reviewed technical levels for short term investors and traders.
Stock Performance Overview
Tata Steel's stock has demonstrated volatility within a defined range. Here’s a snapshot of the latest trading details:
Opening Price: Rs 152.00
Intraday High: Rs 153.56
Intraday Low: Rs 150.02
52-Week High: Rs 184.60
52-Week Low: Rs 122.62
P/E Ratio: 68.71
Dividend Yield: 2.39%
The 52-week price range indicates significant price movement, making the stock appealing to both short-term traders and long-term investors.
Analyst Recommendations
Kunal Kamble, Senior Technical Research Analyst at Bonanza Group, has issued a BUY recommendation for Tata Steel, citing strong technical indicators that signal continued bullish momentum.
The stock recently retraced to its 50-EMA (Exponential Moving Average) on the monthly chart, forming a Hammer candlestick pattern, a key reversal signal that underscores robust buying interest. Following this retracement, bulls have regained control, leading to steady accumulation in the current month.
The price is currently trading above both the 21-EMA and 50-EMA, reinforcing sustained strength and trend continuation. Additionally, the Relative Strength Index (RSI) has begun moving upward after a period of consolidation, further validating the stock’s positive momentum.
Adding to the bullish setup, the Directional Indicator (DI+) has crossed above DI-, suggesting a shift toward an uptrend. With momentum gaining traction, Tata Steel appears well-positioned for further gains.
According to Kamble, investors can consider buying the stock with a stop-loss at Rs 120, while targeting an upside potential of Rs 200-230.
Technical Analysis
Candlestick Patterns
Tata Steel's recent daily charts indicate a mix of bullish and consolidation patterns. A bullish breakout above Rs 154 could signal further upward movement, while support around Rs 146 may act as a safety net.
Fibonacci Levels
Using the 52-week high (Rs 184.60) and low (Rs 122.62), the Fibonacci retracement levels suggest key price areas for support and resistance.
| Level | Price (Rs) |
|---|---|
| 0% (High) | 184.60 |
| 23.6% | 169.23 |
| 38.2% | 160.00 |
| 50% | 153.61 |
| 61.8% | 147.22 |
| 78.6% | 138.00 |
| 100% (Low) | 122.62 |
These levels can serve as a guide for entry and exit points, depending on how the stock reacts at these zones.
Support and Resistance Levels
- Immediate Support: Rs 146
- Key Resistance: Rs 168
If Tata Steel’s stock moves above Rs 168, it could gain bullish momentum, while a drop below Rs 146 may indicate further downside risks.
Competitive Landscape
Tata Steel operates in a highly competitive sector, where JSW Steel and SAIL (Steel Authority of India Limited) are among its biggest rivals.
- JSW Steel has maintained steady growth and remains a key player in domestic and international steel markets.
- SAIL, a state-owned enterprise, continues to expand its production capabilities while keeping cost-efficiency a priority.
With global steel demand fluctuating, the competition remains intense, requiring companies to focus on innovation, cost management, and operational efficiency.
