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Tata Steel spent the week in an extremely narrow band between Rs 614 and Rs 645.

The Doji in the weekly chart indicates that the stock is halting prior to its next move.

The very thin volumes observed during the week are a cause for concern as is the slowing momentum in the short-term.

The stock is halting just above the short-term support at Rs 612.

If this support holds, it can attempt to move higher to Rs 680 and then Rs 694 over the medium term. Short-term investors can buy in dips with a stop at Rs 610.

Lokeshwarri S.K.

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