Buy Tata Steel Ltd., target Rs 364: Tejal Shah

Tejal Shah of Edelweiss Financial Services has a buy call on Tata Steel Ltd. with a target price of Rs 364, The current market price of Tata Steel Ltd. is Rs 355.5. Time period given by analyst is Intra Day, when Tata Steel Ltd. price can reach defined target. Tejal Shah recommended to keep stop loss at Rs 331. The stock has hit a high of Rs 357.35 and low of Rs 344 so far in trade. The scrip has been moving above most of its crucial moving averages. Of late, it has taken support from its 50-day moving average placed at Rs 328 level.