Most cement stocks have seen a healthy run up since the past few months. In a more recent development, reports suggest that ACC and Ambuja Cements might have to shell out two per cent of sales as royalty to their Swiss parent company Holcim. Despite losing ground on Wednesday, both these stocks have bounced back in trade today.
Should you still stay invested in these two counters? What about the other large-and mid-cap cement stocks? Check out the trading strategies with Ravi Nathani, technical analyst, Nsetoday.com.
Smartinvestor : The markets have been rangebound since the past few sessions. Where do you see the Nifty headed in the near-to-medium term?
Ravi Nathani : Nifty close below 5635 would open doors for 5550, traders have to watch this level closely.
Smartinvestor : What are the key support and resistance levels for the Bank Nifty? Do you like any stock from this space for a long / short position?
Ravi Nathani : Bank Nifty is trading range bound on charts (11530 - 11240) trade and close above / below would add trigger in direction. CANARA BANK is a sell on rise whereas target expected is 405 in short term stoploss would be close above 434
Smartinvestor : Ambuja Cements and ACC are up over 1% in trade today. Is it a good time to book partial profit in these two counters? What about the the other cement stocks such as Shree Cement, UltraTech and India Cements?
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