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Tuesday, July 12, 2011

TRADING RECOMMENDATIONS Bhushan Steel Ltd.

Bhushan Steel Ltd. CMP -RS 431.95
Technical Outlook & Trading Strategy:-

The share price of Bhushan Steel has broken below its critical supports of RS 436 levels. In simple technical outlook,violation of important support should indicate further price declines. We believe that the stock price could decline to the next support levels of RS 414 / RS 405 in forthcoming trading sessions.

Short positions are recommended at current levels with a stop placed above RS 443.50.