Hindalco, Tata Steel, SAIL may slip 5-6%: Mohindar

Hindalco, Tata Steel and SAIL may slip 5-6%. Overall metal sector looks weak, says Rahul Mohindar, viratechindia.com.

Mohindar told CNBC-TV18, “One of the weakest sectors looks like is going to be metals. We have got some downside targets on stock specific. One could look at selling Tata Steel, even now we still think you will still get the 5-6% on the downside. I know it is a trading position that I am talking about because obviously these stocks are sold off quite heavily.”
He further added, “Hindalco, Tata Steel, still have 5-6% downside on these stocks. Even SAIL for that matter, that is the one which looks the weakest to us, we have a target of Rs 67 on that, I think there one could look at fresh short positions as well.”