Bullish on UltraTech Cement, could rise above 1550: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com shares his views about UltraTech Cement Limited.

ET Now: What is the call on UltraTech Cement?

Deepak Mohoni: UltraTech has been a better performer than an ACC or Ambuja. I would put cement into two packs. You have got ACC and Ambuja which are in a bit of a downtrend but still above their 200 DMAs. So, they are in a longer term uptrend but correcting quite a bit.

Whereas, you have stocks like UltraTech, Madras Cement or Prism Cement which have reached a high of at least one year and have been running sideways since then. So, they are a little more bullish. In the case of UltraTech, it can rise above 1550 and it shows a greater reinforcement of an uptrend.