Stocks to Buy on Monday – Tata Steel, NALCO are top buys; enough METTLE in these METAL stocks to earn handsome gains, experts tell WHY
Metal stocks will remain in flavour when the Stock Markets reopen on Monday, at least two experts have told Zee Business. Friday turned out to be a great trading session for Nifty Metal stocks as this index closed at 5,273.60, up 2%. Out of the 15 stocks, 13 stocks advanced while two stocks declined. Tata Steel was the biggest gainer followed by Vedanta and NALCO
Metal stocks will remain in flavour when the Stock Markets reopen on Monday, at least two experts have told Zee Business. Friday turned out to be a great trading session for Nifty Metal stocks as the index closed at 5,273.60, up by almost 2 per cent from the last closing price on Thursday. Out of the 15 stocks, 13 stocks advanced while two stocks declined. Tata Steel was the biggest gainer followed by Vedanta Limited and National Aluminium Company (NALCO). Tata Steel and NALCO were among the top buy for Analyst Rajesh Palviya and Shrikant Chouhan Respectively.
Know what works for these two stocks and why they could potentially be a money spinner for the investors.
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Top Stock to Buy – Tata Steel Shares - Rajesh Palviya of Axis Securities said that the Nifty is attempting to make a base around 15,600 level. He said that he expected a pull back from here and the markets may test levels around 15,800 when the markets reopen on Monday. He said that he finds metal as a very attractive sector and Tata Steel as his top buy.
He puts the stop loss at Rs 1210 while the target price at Rs 1280. Tata Steel Stocks were up over 4 per cent on Friday closing at Rs 1239.75 on the NSE.
Top Stock to Buy – NALCO Shares – Chouhan said that metal is one sector where the investors can put their money and this sector will gain for the next 6 months. He said that inflation could only go up going forward, which will aid this sector. He said that this inflation is demand-pull inflation. While he was all praise for Tata Steel stocks, his money was on NALCO shares.
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This stock is available around Rs 86. He puts the target price at Rs 105 while the stop loss at Rs 79. The risk-to-reward ration is good and one should buy it with a long term view.
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