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METAL STOCKS

Discussion in 'Technical Analysis' started by caringvij, Aug 25, 2016.

  1. caringvij

    caringvij Active Member

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    In metal sector, what are the interesting stocks
     
    caringvij, Aug 25, 2016
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  2. yankeedin

    yankeedin Responder

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    Tata Steel looks interesting @ 380 for target of 420 & above. I suppose we can buy with sl of 360.
    NMDC also looks interesting @ 108 for target of 125-130 with sl of 98/99
    Even SAIL looks interesting
     
    yankeedin, Aug 25, 2016
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  3. rajkamal1985

    rajkamal1985 Member

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    I see SAIL looks interesting for a target of 54 after recent consolidation at 40-50 levels.
    Shabbir can give more insight on this
     
    rajkamal1985, Aug 25, 2016
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  4. shabbir

    shabbir Administrator Staff Member

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    For investing I never prefer commodity stocks because many reasons and one of the major reason is they are just yet another commodity producer player.

    Trading is altogether is based on charts being formed and does not matter what the underlying stock or business is.

    Now you may argue why I invested in Tata Steel at around 210 to around 300 when it was shooting up and reason was never the commodity as such but then the sale of its UK unit which was one of the reason. Apart from that if you are investing in commodity stocks, always look for cheap producer of the commodity and they can help you with good margins as a business and Tata steel is one of the cheapest steel producer.

    So I don't prefer investing in metal sector but that is not sectorial view but more of a business view. Any business that don't have a pricing power and is yet another me too kind of business is an avoid by me for investing.
     
    shabbir, Aug 25, 2016
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