Jan 08, 2013, 11.28 AM | Source: CNBC-TV18
Buy Tata Steel around Rs 420, says Siddharth Bhamre, Angel Broking.
Siddarth Bhamre (more)
Head- Equity Derivatives & Technical, | Capital Expertise: F&O
Bhamre told CNBC-TV18, "In metals the momentum is continuing right from December series. If you look the way aluminum prices went up, the depreciation of dollar and formation of long positions. Even in yesterdays trading session when market was subdued stocks like Tata Steel and Sterlite Industries did see huge amount of built-up with positive price momentum."
He further added, "Momentum may continue, you might see dip of 2-3 percent here and there. You should buy in that dips, so anybody who is thinking on the street that enough is enough now metal would correct and there are so many long positions, so I would go short, may not make good money. So Tata Steel if it reverses back to Rs 420 levels again it would be a good buy. Hindalco Industries is a good buy at dips. If somebody is long continue to hold long positions and if somebody wants to enter, enter at dips, you would get long unwinding dip."
What's driving Tata Steel post Q3 loss, bearish analysts
Credit Suisse maintains an underperform rating wit
Top buzzing midcap stocks to trade on Feburaray 5
Sell Tata Steel, says Rajat Bose
Rajat Bose of rajatkbose.com is of the view that o
Tata Steel consolidated Dec '15 sales at Rs 28,039.02 crore
Tata Steel has reported a consolidated total incom
Tata Steel Q3 disappoints; posts cons net loss of Rs 2127 cr
Consolidated earnings before interest, tax, deprec
Sell Tata Steel, Glenmark; buy Asian Paints: Sudarshan Sukhani
Sudarshan Sukhani of s2analytics.com is of the vie
Buy Bank of Baroda, Tata Motors: Nooresh Merani
Nooresh Merani of Asian Market Securities is of th
Buy Eicher Motors, Whirlpool: Rajat Bose
Rajat Bose of rajatbose.com recommends buying Eich