Metal Stocks -- A Quick Preview
The stocks in the metal counter are giving early signs of bottoming out
and, after banks, the metal stocks may lead the market in future rallies.
The trend and momentum indicators have definitely turned in f/o the metal
stocks and this gets validated by very favourable price/volume action seen
in counters like Tata Steel, Hindalco, Vedanta and JSW Steel (which is
leading the sector by making new 52-week highs). As the post-Budget rally
has been sharp and swift, it will be better to allow market and stock
prices to cool-off a bit before taking a plunge.
*Recommended purchase price:*
Tata Steel: At or below Rs.250.
Hindalco: At ~ Rs.67.
Vedanta: At ~ Rs.70.
JSW Steel: At ~ Rs.1050.
NMDC: At or below Rs.80.
G R CHARI
The stocks in the metal counter are giving early signs of bottoming out
and, after banks, the metal stocks may lead the market in future rallies.
The trend and momentum indicators have definitely turned in f/o the metal
stocks and this gets validated by very favourable price/volume action seen
in counters like Tata Steel, Hindalco, Vedanta and JSW Steel (which is
leading the sector by making new 52-week highs). As the post-Budget rally
has been sharp and swift, it will be better to allow market and stock
prices to cool-off a bit before taking a plunge.
*Recommended purchase price:*
Tata Steel: At or below Rs.250.
Hindalco: At ~ Rs.67.
Vedanta: At ~ Rs.70.
JSW Steel: At ~ Rs.1050.
NMDC: At or below Rs.80.
G R CHARI
why not you go for a book value above the quoted price like chromatic india, nfl, nalco(huge reserve),jindal saw ,bimetal bearings( a amalgamated group company wife of mr.venu srinivasan tvs group)
ReplyDeletea preview of your view is highly appreciated