Tata steel daily chart analysis. [ 3- feb- 2014]

• Tata steel is trading under its 25, 50, 100 Day Moving Average.
• It is trading under its 200 day Exponential Moving Average standing at 349 , which is bearish for the stock.
• 200 day S.M.A is standing at 318.
• 50% retracement of its Previous  rally [from 195 to 435]came at 315.
• Stock is trying to take support at its previous top standing at 343-342, which is also the 38% retracement of its previous rally.
• In case stock fails to hold this support , it can test its 50% retracement, 200 day S.M.A.
• In case it confirms the support, a bounce can come to, 350, 360, 370.
• There is a falling window resistance zone at 356.25- 354, 370-374.45.
• Further Support zone is at 310- 315-320.