MOFSL'S Ruchit Jain On Railway, Metal & Defence Stocks. Short-Term Pullback Or Long-Term Rally?

The metals sector is showing signs of a pickup, raising the question of whether this space holds investment opportunities. According to Ruchit Jain, Vice President and Head of Equity Technical Research at Motilal Oswal Financial Services, selective metal stocks could perform well. While some metal stocks have already undergone a corrective phase, a short-term pullback may be on the horizon, especially if the dollar index stabilises and consolidates. Among the metal stocks, JSW Steel stands out as a strong pick within the sector. Shifting focus to broader markets, small-cap stocks are also in the spotlight, with RITES surging 6% on fresh order inflows. Railway and defence stocks, which saw significant momentum recently, continue to attract attention. However, Ruchit Jain highlights the importance of follow-up news, as many railway stocks were previously oversold. While a short-term pullback is possible, its sustainability remains uncertain. Within the defence sector, selective exposure is advisable, and stocks like BEL and Mazagon Dock could present good buying opportunities as they trade near their mid to long-term support levels. Will metals see a sustained rally? Are railway and defence stocks set for a long-term uptrend? Watch Business Today TV’s expert discussion for valuable market insights.