Bhushan Steel can retest Rs 1450, says Akshata Deshmukh, Sr Research Analyst, Networth Stock Broking.

Deshmukh told CNBC-TV18, "Primarily I am expecting some outperformance in the metals pack and especially in the midcap metal counters we have seen a run up in JSW Steel, Sesa Goa, Welspun Gujarat, even Jindal Saw. I think Bhushan Steel is one of the high beta stocks amongst the entire pack and it has taken support at around Rs 1,150 odd levels where it had formed a triple bottom support initially in September 2009. I think this stock can retest its recent high from Rs 1,450 levels and though a stoploss should be maintained for traders considering it is a high beta stock, I think accumulation around lower levels is definitely recommended.”

Disclosure: I do not have a personal holding in the above stock/sector but may have recommended them to clients.