0

0

0

0

0

0

0

0

0

videos | IST

Globe Capital expects metals to witness some corrections going forward

In an interview to CNBC-TV18, Himanshu Gupta of Globe Capital, said that a very strong technical recovery rally was seen in most of the metals.
However, he said, “When China joins after a break for this week on Monday, there is a very high possibility that after a sharp rally, we see some kind of profit booking and shorting at higher levels. So I expect some metals to witness some corrections hereafter and therefore would be looking to go short at higher levels."
On aluminium, Gupta said, “We have seen some sharp sell-off in the late evening on Thursday. So I do not think these gains will sustain Friday’s session.”
“Metals like zinc and copper, they are the metals that have seen a very strong sharp run up over the last couple of sessions. I think some profit booking is on the cards and I would be looking to go short on both the counters,” he added.
Disclaimer:
The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.