Bullish on ACC, UltraTech in cement pack: Kotak Securities

In a chat with ET Now, Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities, shares his views on the outlook of the cement pack.

Do you prefer large caps or midcaps in the cement pack?

The cement sector is still in the preparation mode and we are like going to see some more moment because it is very tough to trade in this particular space. We have seen good correction in the past 3-4 days. We have seen unexpected recovery which has even crossed the previous highs for stocks like ACC. So, whenever there is a preparation mode, we always have to be with the high momentum stock.

In that space, I am always bullish on ACC. We should always look for this particular stock to trade even for investments on declines. From the midcap side, we can look for UltraTech, which is currently trading at Rs 1,100-1,120 with a target of around Rs 1,200 on the higher side with a stop loss of Rs 1,070-1,075 on the lower side.