January might be robust for metal counters: Amit Goel

Amit Goel, Director, PACE Stock Broking Services in an interview with ET Now talks about the metals space.

Very quickly what is the call on the metal space right now?

Metal prices have moved up in last few weeks but it is basically the precious metals which have actually gone up a lot. If you look at industrial metals like copper, aluminium, nickel and lead they have also moved up but they have moved up very gradually and the move does not really betray a sense of a bubble happening so my sense is that while precious metals can give a deep sort of a correction in the next few weeks but industrial metals are essentially sideways and I do not see a big downside happening there.

So similarly metal stocks are probably going to be sideways rather they may have a slightly upward bias if one looks at a period of next 2 months because I think the January results are actually going to be quite robust for most of the industrial metal counters.