Best stock to play the short-term copper rally in India

Business


According to Chandan Taparia, technical analyst at Motilal Oswal Financial Services, the major trend of the stock is positive as it has been making higher top-higher bottom along with buying interest in the entire metal space.

Synopsis

Shares have rallied 72% in the last one month and 166% in the last three months to close at Rs 98.35 on Monday. The stock is expected to rally another 25% in the next few weeks, said technical analysts.

MUMBAI: Monday belonged to metals on D-Street. From copper to steel, metal stocks were red hot on a day investors appeared to have cold-shouldered virtually every other sector. Hindustan Copper surged 15%, while Vedanta and Hindalco gained 7% and 3%, respectively.Copper crossed $9,000 per tonne for the first time in the past nine and half years on the London Metal Exchange. The ongoing concentrate supply issues and strong demand, particularly

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