Tata Steel share are down by -0.3%, Nifty up by 0.1%

At 10 Sep 11:19 today, Tata Steel shares are trading at price ₹148.95, -0.3% down from the previous closing price. Sensex is trading at ₹81770.88, up by 0.26%. The stock has hit a high of ₹150.95 and a low of ₹148.85 during the day.

On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹150.92, ₹152.33, & ₹153.77, whereas it has key support levels at ₹148.07, ₹146.63, & ₹145.22.

Till 11 AM today, the volume traded on NSE & BSE for Tata Steel was -30.28% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock is currently experiencing a strong downtrend.

From a fundamental analysis perspective, the company has a ROE of -4.55% .

The median 1-year forecasted upside in this share is at 10.61% with a target price of ₹164.75925926.

The company has a 33.19% promoter holding, 10.88% MF holding, & 19.68% FII holding as per filings in the june quarter.

The MF holding has decreased from 11.20% in march to 10.88% in june.

The FII holding has increased from 19.61% in march to 19.68% in june quarter.

Tata Steel share price down -0.3% today to trade at ₹148.95 while its peers are mixed. Its peers such as JSW Steel are falling today, but its peers Jindal Steel & Power, Jindal Stainless, Steel Authority Of India are on the rise. Overall, benchmark indices Nifty & Sensex are up 0.1% & 0.26% each respectively.