Tata Steel looks extremely strong: Ashwani Gujral
Tata Steel looks extremely strong. This was a recommendation even in the morning. Once 660-665 is crossed, we could see levels of 690 coming back into Tata Steel.
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| In an interview with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about metal stocks.
ET Now: What’s your view for metal stocks?
Ashwani Gujral: Tata Steel looks extremely strong. This was a recommendation even in the morning. Once 660-665 is crossed, we could see levels of 690 coming back into Tata Steel. Hindalco is the other one, which seems to be consolidating in this 200-210 kind of zone and once it can gather momentum above 220. We will see 250 coming on Hindalco. JSW needs to sustain above 900 to get back into that 900-1200 zone but I do not think metals on a secular basis are doing well. There are some stocks both in ferrous and nonferrous that are stronger, so may be a Tata Steel, JSW Steel and may be Hindalco in the nonferrous space look strong.
ET Now: What’s your view for metal stocks?
Ashwani Gujral: Tata Steel looks extremely strong. This was a recommendation even in the morning. Once 660-665 is crossed, we could see levels of 690 coming back into Tata Steel. Hindalco is the other one, which seems to be consolidating in this 200-210 kind of zone and once it can gather momentum above 220. We will see 250 coming on Hindalco. JSW needs to sustain above 900 to get back into that 900-1200 zone but I do not think metals on a secular basis are doing well. There are some stocks both in ferrous and nonferrous that are stronger, so may be a Tata Steel, JSW Steel and may be Hindalco in the nonferrous space look strong.
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