Ratnamani Metals can test Rs 125: Deshmukh

Deshmukh told CNBC-TV18, "After forming a dark cloud in the month of June from the levels of Rs 99 which is a negative pattern, Ratnamani Metals and Tubes has actually given a breakout yesterday with a very good volume. Since last two days volumes have been on an average of 5.5 Lakh whereas the last several months we haven’t seen a volume of more than 1.6-1.7 lakh on a daily basis. So I think the breakout coupled with volume expansion is good for this particular stock and the stock can test about Rs 125 levels in a couple of months. I would recommend accumulating this script at around Rs 95-96 levels.”

Disclosure: I personally do not hold the stocks discussed but do recommend it to my clients.