ACC, Ambuja Cements, UltraTech: Three cement stocks that can rally 10%

ACC, Ambuja Cement, and UltraTech Cement are showing likelyhood of a further upside. If indices do trend upward, then these stocks can even show a rise of 10 per cent each

Cement stocks are showing a positive reversal even as the frontline benchmark indices remain range-bound. In the last four sessions, the S&P BSE Sensex has been trading in the range of 39,650 – 38,870 and the Nifty 50 between 10,850 – 10,620 levels. Both indices are trading around 3 per cent lower than their respective lifetime high.
 
Looking at the overall formation on charts, the select cement counters are showing a buying momentum. ACC, Ambuja Cement, and UltraTech Cement are showing likelyhood of a further upside. If indices do trend upward, then these stocks can even show a rise