Tata Steel Share Price Jumps 6 pc on Strong China Numbers; Time to Bet for High Returns? Analyst Recommends Strategy

Tata Steel Share Price Jumps 6 pc on Strong China Numbers; Time to Bet for High Returns? Analyst Recommends Strategy

Tata Steel Share Price Target 2024, Tata Steel Share Price Today News NSE BSE: Tata Steel share price settled in red at Rs 148.70 a share on the National Stock Exchange (NSE) in Tuesday’s trading session, down by 0.67 per cent from its previous close of Rs 149.70 apiece. Tata Steel stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The counter outperformed the sector by 0.28 per cent. In previous session on Monday, the gained after 5 days of consecutive fall and outperformed the sector by 2.61 per cent amid high volumes, mainly due to strong China industrial output numbers which lifted the metal sector.

Tata Steel Share Price Target 2024

The stock has experienced a consolidation breakout after a sharp price correction. Rupak De, Senior Technical Analyst at LKP securities explained that the recent rally was supported by a significant increase in volume, indicating broad-based participation. The RSI indicator is showing a bullish crossover. In the short term, the stock could potentially move towards Rs 163, with support situated at Rs 144.

Tata Steel Share Price Today News NSE BSE

Tata Steel share price settled in red in Tuesday’s trading session to close at Rs 148.70 apiece on the NSE, down by 0.67 per cent on the NSE. A total of 51.09 lakh shares changed hands today of Tata Steel which is a constituent of S&P BSE SENSEX generating a total turnover of Rs 76.32 crore. The large cap company has a market cap of Rs 1,85,566.38 crore, as per BSE website. The shares of the company have a PE of 40.03x. In volume terms, over 1050 lakh shares of the company were traded on the NSE during the day.

Tata Steel Share Price History

The counter has delivered multibagger returns of 112.20 per cent in the last three years, as per data available on the Bombay Stock Exchange (BSE), making investors richer with massive gains.

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