Grasim and ACC are good buys from the cement pack: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com in a chat with ET Now gives his outlook on cement stocks.

What’s your sense on the cementing pack because I see you have got a buy on ACC, I mean in the past few trading sessions all of them have been beaten down quite badly considering they have all got cost pressures on them?

ACC you had a correction all the way to the 200 day moving average in Friday session and today you have a seen a gap up opening so I think stock is having sufficient steam and you could possibly see it rallying back to 935-950 kind of levels over the next 2 or 3 sessions.

In the cement pack we also like Grasim although we haven’t covered it in today’s buy picks but I think Grasim is also looking good possibly look for targets of closer to 2850 or 2900 on Grasim and you could have a stop loss of closer to 2570 on Grasim.