Metals continue to remain under pressure: Thukral

Metals will continue to remain under pressure, says Hemant Thukral of SBI Capital Securities.

Thukral told CNBC-TV18, "Metal is one side along with IT. The moment after the downgrade came on US has never seen coming back or materialising even any pullback rallies and what we have seen yesterday IT saw at least a sustainable pullback rally specially on the heavyweights like TCS but till now there is no pullback rallies in heavyweights on the metals."

He further added, "Hindalco, Tata Steel continue to see shorts at every rise, not only that the call writers in the stocks have actually moved southwards so now Hindalco faces huge resistance at Rs 155-160, Tata Steel will find seriously tough to cross Rs 480-475 on the higher side. So metals will continue to be under pressure and I don