Sell Tata Steel with an intraday target at Rs 335: Gaurav Bissa, LKP Securities

Gaurav Bissa of LKP Securities recommends a sell on Tata Steel with a target of Rs 335 and a strict stop loss placed around Rs 352. The stock has already risen by over 30 per cent so far in the year 2016 and some bit of profit taking cannot be ruled out.

Tata Steel which is a high beta stock (2.25) is trading well above its 200, 50 and 100 DMA as per data compiled by ETMarkets.com team. The stock is trading with a P/E of 6.6 and a P/B of 1.08.