Technical Analyst, Vijay Bhambwani is of the view that commodities might even outpace return on equities in 2010.
Bhambwani told CNBC-TV18, "Atleast for two quarters now I have been talking about a bull market in industrial commodities, nothing has happened apart from the fact that some of these commodities have really zoomed up in price and nothing has happened to change my opinion. I still believe that this is an uptrend, provided you have a 2-3 year timeframe if not higher, a minor 10% blip in aluminum would not worry me because I do see the price possibility headed towards Rs 125 plus levels in the coming two quarters no less."
He further added, "So as long as the underlying commodities continue to go up I don't see why cyclical stocks like say a Nalco, Hindalco or a Tata Steel, a SAIL or a Sterlite Industries or even Sesa Goa going through a very deep correction. This is a bull market out there and commodities might even outpace return on equities in 2010."
