The Iron and Steel Industry in India is one of the fastest growing sectors.The demand drivers for the Indian Iron and Steel industry are increasing in the activities of the automobiles industry, real estates industry, transportation system, aircraft industry, shipbuilding industry, etc.Tata Steel is world's 11th largest and India's second largest steel producer. Large, public and private sector players strengthen steel production capacity in view of rising demand.The steel sector contributes over 2 percent to the GDP of the India and provides 20 lakh jobs in the country.Tata Steel has manufacturing operations in 26 countries.In 2007 Tata Steel acquired the UK-based steel maker Corus and renamed Tata Steel Europe in September 2010.Tata group is most valuable Indian brand as per Brand Finance 2017.
Tata Steel is an organization that has seen many ups & downs as well as both world wars and depressions. Tata Steel has kept on moving and growing.
As per analysis point of view, I’m expecting Tata Steel to make short-term high between last week of October to the first week of November, Then short-term low between last week of November to the first week of December.Then we will see the mid-term rally for the high between mid week of December to last week of December.We will see the major bottom of Tata steel in February and major top in March around 860-920 price range.
Kulvir Singh CMT
@ Gladium Norma