Buying will come back for metals if rally continues: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com (Technical Check), shares his views on metal stocks.

ET Now: What is your call on the metal space?

Ashwani Gujral: We are in some uptrend in metals but yesterday there was a small blip and metals should come back. Whenever we have this sharp rally, we will often see one day of sharp decline and then the rally tends to continue. However, it is an oversold rally where we would not find metal stocks moving to new highs but these will be substantial 25-30% rallies. If the Nifty will go higher, metals will go higher with the Nifty. So chances are post yesterday’s decline, you should see buying come back.