Wednesday 12 November 2008

Tata Steel safest in metal space: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that Tata Steel is looking safe in the metal pack.

Sukhani told CNBC-TV18, "Suzlon Energy got pummeled yesterday because it is in a downtrend; it did not even show signs of life when we were having this small rally except for one day. So Suzlon is not a buying opportunity for traders, for investors, for anyone. We have to see how it pans out, builds a base."

He further added, "SAIL has been underperforming the market. It has been underperforming as compared to Tata Steel. In a market like this, it is again not easy, I would say if at all somebody wants to go into metals, Tata Steel would be the safest of them."

Disclosure: Analyst has delta neutral positions in the Nifty and investments in the shares.

Source: Moneycontrol

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