Sell Steel Authority of India, target Rs 55: Ashish Kyal

Ashish Kyal of waves-strategy.com told CNBC-TV18, "The entire metal pack has been under tremendous pressure not for the domestic reason but the overall global commodities has not been doing good, the commodity stocks worldwide has not been doing good and there is a systematic selloff which we are seeing in the global metal space.""Steel Authority of India (SAIL) is no exception. So, SAIL is definitely a sell even at this point with a stop loss of around Rs 60 and we can see a target of somewhere around Rs 55 on the stock," he said. Disclosure: Analyst does not hold positions in the stock and has been SEBI registered.