Nalco a better buy than Hindalco

Technical Analyst, Sudarshan Sukhani is of the view that between Hindalco and Nalco, Nalco is a better buy.

Sukhani told CNBC-TV18, “Between steel and alluminium, I think alluminium charts are not at all upbeat. Alluminium is in a depression for many months and it is likely to remain like that between the players in alluminium, Hindalco and Nalco, Nalco is a better buy.

He further added, “Certainly steel is buy on cheerful; many of the steel stocks are making new highs. So steel remains a sector that should still be bought on dips. It is much better than alluminium.”

Disclosure: Analyst interested in above mentioned stock.