Ambuja may head towards about 144-145

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his views on various stocks.

What is your call on Ambuja stocks?

Cement has done well in the sense that it has held out in a falling market. So I would definitely be looking for some kind of buying opportunity once the index gives a signal that probably 4950-4940 could hold out. On the stock of Ambuja Cement, this one is now trading about 200-day and the 89-day average. That is very positive in a market like this. It could head towards about 144-145 in the short term possibly. If things improve or there is some kind of fundamentally positive news flow, it could go even higher. I would be looking into get into some kind of buying positions over here.