Thursday, December 4, 2008

Hindalco a better trading bet: Mathew

(My Original Blog Post:
Technical Analyst, E Mathew is of the view that Hindalco Industries is a better trader bet than Tata Steel.

"In Tata Steel there is a trading opportunity and apart from Tata Steel where possibly there is a trading opportunity is Hindalco. If Hindalco is able to sustain above that Rs 43-45 zone that would invite a lot of possibly long-term investors also who see a lot of value in Hindalco and that could give rise to even a trading opportunity."

He further added, "Keeping a stoploss at around Rs 43-45, I think traders could certainly look for a level of around Rs 74-75. But if it is able to breakout above Rs 74-75 zone then it could surprise on the upside and this upside could give you a target of as high as possibly Rs 90-94. Amongst the metal pack, I do feel that a good trading opportunity exists in Hindalco infact I would rate Hindalco as a better trading bet than Tata Steel."

Source : MoneyControl


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