Tata Steel may struggle to cross 800-810.
I may be wrong but charts suggest that it can slide down to first base of 640.
Since May 2017 it had grown by 76%. So about 9% per month.
Presently are metals are doing very well since there is huge demand for railway line developments in many states
Hope it may have upmove for some more time
On long term chart ,Tata steel is not in overbought level, & yes there is resistance level at 795, chances of that level crossed & Tata steel may reach 900 level
Liquidity based rally, Tata Steel is in overbought zone in all timeframes, Daily, Weekly, Monthly, Yearly as well as Quarterly.
I plan to buy at around 640 for short term.
Maharatna Company SAIL, has registered the best ever production of hot metal, crude steel and saleable steel in the first three quarters (April-December period) of the financial year 2017-18. In the aforementioned period, the steel plant has made 2,474,893 tonnes of hot metal which is a growth of 12.5 per cent above the corresponding period last year. Besides, the steel plant also produced 2,386,957 tonnes of crude steel and 2,174,120 Tonnes of Saleable Steel in the first nine months of the fiscal, thereby registering growth of 14.8 per cent and 9.3 per cent respectively.