Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "At some point metal stocks will become buys, but maybe not immediately. I think global metal prices are in some sort of an uptrend, but given the pressure that we have here, chances are even there people will take profits home. So maybe Tata Steel will get back to Rs 580-600, Vedanta below Rs 300, those sort of prices are likely to come in because if the market falls, metals being a high-beta sector will fall. So, I don’t think unless the market bottoms out, you should be getting into metals or they will make new highs before the market bottoms.
He further added, "You can get to Rs 70-75 on Andhra Bank. The weak stocks which have started to move higher, things like DHFL, etc. out there you should take short positions at some point. I don’t think shorting what is already down is a great short trade. So, any sort of NBFCs which are looking up right now, out there you can go short."
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