SAIL, Tata Steel, Jindal Steel top picks: Sukhani

SAIL, Tata Steel and Jindal Steel are top picks in metal space, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, “The ferrous metal stocks are giving attractive going long opportunities and these are SAIL, Tata Steel and Jindal Steel. All of them have given bullish head and shoulder break-outs that really mean it is not just a day trade; the trend is likely to be sustained over a period of time.”
He further added, “For people who want to go long, they must focus on these ferrous metals. The three steel stocks I have suggested and there is a positional trade also. You really want to buy calls of January, if you want to build positions but that possibility is also there. In this market it is quite possible that we could see choppy conditions continuing. We have seen that last time the markets were sideways for 2.5 months. I wouldn’t be surprised if the same thing happens. In that case stocks and sectors that are now showing buoyancy must be focused on. These three stocks in the metal sector are perfect for buying.”