UltraTech, ACC: More steam left in cement stks as follow-up buying resumes

A follow-up buying may induce stronger momentum trapping short-sellers

Cement stocks have been on an upswing since the last few sessions in an anticipation of a pickup in construction activity across the country. According to a report by Business Standard, capacity utilisation at cement companies has improved significantly in May after a sharp drop in April.

Individual house builders (IHB) segment, which drives 55 per cent of the annual demand, has been reviving after construction activities were permitted by various state governments. READ MORE
 

Here's an analysis of key cement stocks on technical parameters:

ACC Ltd (ACC): The consolidation in the range of Rs 1,210 to