Tata Metaliks has very good days ahead: Vijay Bhambwani

Vijay Bhambwani, Author, CEO, BSPLindia.com in a chat with ET Now gives his views on Tata Metaliks.

ET Now: What is the call on Tata Metaliks?

Vijay Bhambwani: Any kind of a move like this in a sluggish market indicates that the stock is preparing or has already prepared to change gears for the better.

Now, this kind of an uptick of 35% indicates that there is renewed buying interest. Somewhere close to 62-63 levels would be a base below which Tata Metaliks should not fall if the rally is to have legs on the upside.

The closer it gets to 80, the more you would have the probability of short to medium term guys coming out and booking some profits. But should it surpass the 80-84 ban, the stock has very good days ahead and it should be a buy on dips for the momentum players.