Published on Tue, Nov 11, 2008 at 10:42 | Source : CNBC-TV18
Updated at Tue, Nov 11, 2008 at 12:14
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Expect a short term rally in metals: D Agarwal
Dhiraj Agarwal, Independent Market Analyst is of the view that a short term rally in metals is long overdue. In longer-term analyst does not see too much of upside in metals because it is pretty much given now that the globally economy will be slowing down and is slowing down.
Dhiraj Agarwal, Independent Market Analyst is of the view that a short term rally in metals is long overdue.
Agarwal told CNBC-TV18, "A short term rally in metals is long overdue but I would read this more as bounce coming in from fairly oversold levels and also deeply undervalued levels. Irrespective of how the fundamentals are stocks trading at half time price to book is inherently unsustainable. So longer-term I don't see too much of upside in metals because it is pretty much given now that the globally economy will be slowing down and is slowing down. However, from these levels there is some decent amount of money to be made."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
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