Bhushan Steel can retest Rs 1450: Deshmukh

9546 Investors following Bhushan. Share this News with them.

0

Like this story, share it with millions of investors on M3

Bhushan Steel can retest Rs 1450: Deshmukh

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

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Akshata Deshmukh See what other Experts & Brokerages are saying about Bhushan See messages about Bhushan Bhushan BSE | NSE 13/02/12 Are Mutual Funds betting on Bhushan?

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.