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Tata Steel shares hit 52-week high for second session but overbought on charts; can the rally sustain?

Tata Steel shares rise for fifth session, hit 52-week high; where is the stock headed?

Shares of Tata Steel Ltd hit a fresh 52 week high today, with the Tata Group stock rising for the fifth consecutive session. The Tata Steel stock has risen 10% in the last five sessions. The Sensex stock, which ended at Rs 116.90 on August 25 hit a 52 week high of Rs 128.60 in the current session. The Tata Group’s metal stock hit an intraday high of Rs 128.60, rising 4.55% in early deals on Friday. The metal stock has gained 7.30% this year and risen 20.20% in a year. Total 44.27 lakh shares of the firm changed hands amounting to a turnover of Rs 56.21 crore. Market cap of the Tata Group firm rose to Rs 1.56 lakh crore.

Tata Steel shares hit seven-month high; time to buy, sell or hold?

Shares of Tata Steel Ltd hit a seven-month high amid a rally in the broader market today. The stock closed at Rs 122.05 on February 1, 2023 and hit a high of Rs 122.60 in the current session, implying a seven-month high level today. Tata Steel shares are also in an uptrend in the last four sessions. The Tata Group’s metal stock has risen from the close of Rs 116.90 on August 25, 2023 to an intraday high of Rs 122.60 in the current trading session, gaining nearly 5% during the period. The current phase of rally has brought the stock closer to the 52-week high of Rs 124.30 touched on January 19, 2023.

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