Ambuja a clear favourite in the cement pack: Devang Visaria, devangvisaria.com

Devang Visaria, Chief Strategist, devangvisaria.com, in a chat with ET Now talks about the cement space.

India Cement and Ultratech Cement are up about 3% each. Are there any counters that you would probably like to recommend in the cement space?

In cement, I would like to stick with ACC and Ambuja Cements. Ambuja Cements is a clear outperformer in this segment for the simple fact that it is still trading near 52-week highs whereas the rest of the cement stocks like ACC or an Ultratech, etc., everyone is trading near their 3-month lows.

So Ambuja is a clear favourite in the cement pack followed by ACC, which has made a kind of double bottom formation closer to the 805 levels. On the upside, once you get a breakout above 835, you should be looking for targets of 880-885 for ACC.