Not very bullish on the cement space: Sandeep Wagle

In an exclusive interview with ET Now, Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, talks about cement stocks. Excerpts:

On the charts, in fact if you look at cement, JP Associates has done a bit of comeback today, 122, I believe 2-2.5% up. Any of the cement stocks in general and JP in particular?

Not really. In the cement pack, I like Ambuja Cements but there is no clear pattern and I am not very bullish on the cement space at this point of time. In fact sometime back I was very bearish on Grasim and it fell. JP Associates, I see a bounce back to the tune of 124-125, nothing beyond that, will move up with the market possibly, so I will not recommend buying in any of the cement stocks.