Hindalco can touch Rs 145: Gujral

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Hindalco can touch Rs 145: Gujral

Hindalco Industries is looking quite strong; keep a stop of about Rs 126 that could get levels of upto Rs 145. Tata Steel has support at Rs 520, says, Technical Analyst, Ashwani Gujral.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Hindalco See messages about Hindalco Hindalco BSE | NSE 21/02/12 Are Mutual Funds betting on Hindalco? Other Stocks in this news Tata Steel |

Technical Analyst, Ashwani Gujral is of the view that Hindalco Industries is looking quite strong; keep a stop of about Rs 126 that could get levels of upto Rs 145. Tata Steel has support at Rs 520.

Gujral told CNBC-TV18, "Some of them are trading at intermediate highs, things like JSW Steel or Jindal Saw. Jindal Saw is now looking good for a target of Rs 1,050, sure they would correct anytime China corrects. But overall these are plays that you get into on all declines. As long as dollar remains weak, metal remains a play. Hindalco is looking quite strong; you could keep a stop of about Rs 126 that could get levels of upto Rs 145."

He further added, "Tata Steel Rs 520 is a key support, so if it declines out there that is place to get into that. Sterlite kind of has become ranging, so that is not looking as strong as before. But steel is looking much better."