"BUY TATASTEEL FUT 2 LOTS ABOVE 1075 TARGET 1087/1095 SL 1060"
A fantastic recovery led by metals with a host of stocks in the broader markets from sugar to rice to tea and coffee kept the screen lively in a highly volatile trading session. Today titan company, reliance industries, indusind bank, axis bank and bpcl were among the top losers on the nifty. Gainers included sbi life insurance, bharti airtel, adani ports, tata steel and hul.among sectors, metal index rose over 2% while selling was seen in the banking and energy names.
Metal space has been in the spotlight
throughout 2021, compared to the single-digit return seen in nifty. Metal index
rose over 50% so far in 2021, compared with a 2% gain seen in the sensex during
the same period. We expect that the rally in the metal space will continue for
some more time; however, investors sitting on gains can book some profits.
Stocks that rose in double digits in may include names like Jsw Steel, Sail, Jindal Steel & Power,
Tata Steel, Nalco, Nmdc, Vedanta, Hindustan Zinc & Hindalco. Jsw steel,
sail and tata steel lead the pack by rising 19-42%, displaying the dominance of
large caps in the sector.
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