Metal index down by 2.83% should retail investors buy on dips By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Metal index down by 2.83% should retail investors buy on dips by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Fundamentals also look stretched on the higher side despite above expectation results from metal companies in this quarter and several companies are focusing on deleveraging their balance sheet by paying off the debt within the next 1 year.
We expect this correction in the metal index can be 10%-15% and from there stock will rebound, we suggest investors to be invested in metal stock and expect very good returns in the next couple of years.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
