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Informist, Friday, Feb. 27, 2026

MUMBAI – Traders are likely to adopt a "buy on dips" approach for metal stocks in the upcoming sessions due to global geopolitical uncertainties. Some analysts said the rise in precious metal prices is here to stay as investors would turn to safe-haven assets given the uncertainty about US tariffs and tensions between the US and Iran. However, they expect the steel companies to fare better, with demand in domestic market remaining firm in the coming months.

Analysts are divided on the valuation of metal companies. Some believe that the upside is limited as they have run up a bit, while others believe there is further upside. But, analysts expect steel stocks to rise in the near term on pick-up in demand. However, some analysts said investors would refrain from taking risky bets in the near term, especially due to uncertainties around US-Iran.

"Steel demand is looking quite good and prices have gone up and there would be some price hike in first week of March," an analyst tracking the sector at a domestic brokerage said. The metal cycle is favourable and hence the stocks would slowly move up as long as there is no negative surprise, the analyst said.

Friday, the Nifty Metal index ended lower by 207.35 points or 1.7% at 12240.65 points. Barring, Hindalco Industries and Hindustan Copper, all the other companies that are a part of Nifty Metal index ended higher on a weekly basis. Lloyd Metals and Energy rose the most this week, by 8%. This was after Nomura initiated coverage on the stock with a target price of INR 1,600 and a 'buy' call. The index is expected move between 12000-12400 points and a fall below 12000 points would take the index to 11600 points, a technical analyst said. 

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Following are the resistance and support levels for key metal stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Gopika Balasubramanium

Edited by Ashish Shirke

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