Metals are yet to take part in the market rally: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.in in an interview with ET Now gives his perspective on metal stocks.

In some specific steel counters would you be a buyer at lower levels on a Tata Steel or a SAIL or a JSW Steel?

Normally when there is a market intermediate uptrend metals are a safe because they outperform the index and they go up quite a lot. That has been the assumption I have been making last week but looking at what metals have done since the uptrend began I think there is a bit of a question mark on them doing it again this time so the are languishing a bit.

Stock like Sesa Goa made a very good move with the start of the uptrend but you look at the heavyweight Tata Steel that’s really at the bottom still since of that decline. So metals right now again languishing a bit, they still have to take part in this rally properly.