Stock Recommendation: Buy These Two Metal Stocks For Up to 16% Gains in Short Term
News 18Metal stocks are on a surge as traders bet on a further run-up in commodity prices on expectations that supply disruptions from Russia following economic sanctions from Western powers will choke supplies. The nifty Metal index has continuously set fresh all-time highs in recent weeks as commodity prices soar higher and investors rush towards metal stocks to capitalise on the move. “Going ahead, we expect the Nifty Metal index to continue its relative outperformance and head towards 6,750 levels as it is the 138.2 per cent external retracement of the recent breather,” they added. Vardhman Special Steel | Target price: Rs 292 Technical charts suggest a favourable risk-reward set up here with higher base formation at 52 week’s EMA. “The share price of Vardhman Special Steel has formed a higher base above 52 week’s EMA and is seen resuming its primary uptrend signalling strength and offers a fresh entry opportunity with favourable risk-reward set up,” ICICI Direct said.