Monday, 27 October 2008

Buy Tata Steel and Hindalco: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that one can buy Tata Steel and Hindalco.

Sukhani told CNBC-TV18, "The pullback need not come today. My point was in the day and it still is that we had this excessive exuberance – irrational exuberance and irrational pessimism. We are down 11-12% but the US markets are not down 12%. So this is an extreme on the downside and I do not think this should be sold into"

He further added, "If somebody has the courage then the right approach – if one has the money, not on any kind of margin – if you have the money one could really go down and buy Tata Steel and Hindalco. I have done that today."

Source: MoneyControl

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