Tata Steel slumps 4%, the company is continuing in discussion to sell its loss-making long product unit in Europe. A similar discussion with Geneva-based Klesh group failed.
The company on Tuesday reported a two-fold jump in its consolidated net profit at Rs 763 crore for the June quarter.
The share is trading at 239.10 down 4%, touched 52-week low level. 237.25.
The stock trend is bearish, August future derivative is trading at 241.10, with a decline of 3.54%. The Call Option derivative is trading near 8.80 declined 34.46% and Put Option derivative is trading near 8.10, up 82.02% for strike price Rs 240.
Trading could be risky on the current level at this stock.
Bank Nifty Advice: Buy Option Call strike price 18200 at 343.53 target 359.84 stop loss 324.05.