Not at all bullish on the commodity space: Rajen Shah, Angel Broking

In a chat with ET Now, Rajen Shah, Chief Investment Officer, Angel Broking, shares his views on the commodity space.

ET Now: Which is one big commodity stock or commodity group you are bullish on?

Rajen Shah: I am not at all bullish on the commodity space at this point of time. Tata Steel operations were not up to the mark, European operations are in a problem, thanks to the poor demand. Hindalco has cut its guidance. In this space, we have been booking profits and we did enter Hindalco and we had booked profits around 145-150 levels.

So, we have booked our profits and we are not in commodity anymore. At lower levels, we could look at those plays. However, at this point of time rather than commodities, I would rather go for agri commodities. A company which is into tea or coffee would be a better bet than the commodity space.