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Any views on switching from Tata Steel to HPCL

Discussion in 'Technical Analysis' started by naveen1241, May 21, 2013.

  1. naveen1241

    naveen1241 Responder

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    Hi All,

    Any views on switching from Tata Steel to HPCL partially with SL 299. Since I think OMC's might perform well in the near future.

    Thanks
    Naveen
     
    naveen1241, May 21, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Whats OMC? Also I don't see a reason for switch between those stocks. Whats your purchase point in Tata Steel and why you just cannot book profit (or loss as the case may be)?
     
    shabbir, May 21, 2013
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  3. naveen1241

    naveen1241 Responder

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    By OMC's i meant Oil Marketing Companies like BPCL, HPCL, IOC. Purchase point of Tata Steel was @ 299. Also by switching i meant to reduce my exposure to Tata Steel (since i already own a fair amount of shares) and venture in to a new sector. I thought of OMC's since they have been in a some what tight range and the change in pricing policies seems to favor atleast a slight re rating. If technicals also doesn't suggest a break down i could take the risk.

    Thanks Shabbir..
     
    Last edited: May 21, 2013
    naveen1241, May 21, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    The downside in HPCL is limited but I prefer investing and trading in stocks that can give me upside as well. HPCL looks like has not done much in last year or so and I don't see a reason it being doing something now.
     
    shabbir, May 21, 2013
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