Avoid longer trade in metals: BP Singh, Executive Director & CIO-Equities, Pramerica Mutual Fund

In a chat with ET Now,BP Singh, Executive Director & CIO-Equities, Pramerica Mutual Fund, shares his views on metals.

ET Now: Metals stocks have made a comeback, is it time to revisit good old metal stocks which are way off the recent highs?

BP Singh: The numbers which came out from China were quite encouraging, however, if one analyses China carefully these numbers are not going to be sustainable. So, I would not prefer to take a longer trade or a very heavy trade on this side.

It is mainly a very short and quick trade when one gets in and get out. If you look at oil the chart, it is looking very weak and there is a probability that oil might correct from these levels, which generally is the trend of the commodities if one takes the medium to long term view on them.