Siddharth Bhamre of Angel Broking told CNBC-TV18, "If we look at the metal space and if I combine metal & mining, most of the stocks have done well in last series barring Coal India, which has corrected. Last two-three months we have seen that shorts were piling up in this stock. Now rollover figure in this metal space was lowest in Coal India, which says that people who were short in this space have moved out."
He further added, "We are expecting a bounce back and we are seeing some traces of formation of fresh long positions. Go long at current levels or slightly at dips for a target of Rs 274 and a stop loss of Rs 248."
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