Prakash Diwan, Asit C Mehta Investment advice traders to buy Hindalco around Rs 120.
Diwan told CNBC-TV18, "Very clear reaction to the softening of commodities last week that we had seen globally and ofcourse the firming up of the US dollar, but once that reaction is factored in, once we are at par with the changes that we have seen on the LME things should kind of stabilize at some level. Hindalco possibly at about Rs 120 levels again becomes a very good buy. So, you just need to wait for those levels to be touched and then things would start consolidating particularly for the non-ferrous side."
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