Sell metal stocks on rise: Harihar
Published on Thursday, November 5th, 2009 at 5:03 PMAuthor: stockalert (2027 Articles)
Sell metal stocks on rise, says TS Harihar, Senior VP at ICICI Securities.
“I would be little cautious because the bounce back that we saw on Tata Steel or Hindalco yesterday was largely driven by short covering and that applies to the market as a whole not just the metal space. I don’t think that the trend seems to have turned around justify any further rise in metal prices. Let’s not forget that Hindalco or Tata Steel is possibly up 400-500% over the last six months and I don’t think that the global metal dynamics would justify this kind of a rise. So as far as metals are concerned the broad trading strategy has shifted from a buy on dips to a sell on rises strategy.”
Source : MoneyControl
Subscribe to my newsletter filling the form below. I'll try to make you happy.
Related Posts :
|
|
|
Market Live |
|
|
Loading ...