Metal stocks don’t look good

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Metal stocks don’t look good

Metals have been the main culprit this week. How do you see the midcap metal stocks on the charts?

In these conditions it is pretty difficult for a stock to look good. Everything is getting dragged down.

The only standout stock if you counted as metal it is not really processing, it is Sesa Goa. That has been looking quite different from the way it did for a while and from other stocks.

It is still way above its December lows. Most of the stocks are going down and the market has gone below its December lows. So this could be the only exception to metal pressure.

Tata Steel has also looked reasonably okay but it is a bear market, it is an
intermediate downtrend. So the best you can expect is it would not fall at a very strong rate.

http://economictimes.indiatimes.com

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