Step aside as far as cement space is concerned: Vineet Bhatnagar

In an exclusive interview with ET Now, Vineet Bhatnagar, Managing Director, MF Global, talks about cement space. Excerpts:

Coming into the cement space we have seen that it has been sluggish of late and of course with enhanced capacities coming into the foray a lot of these cement companies are also coming under pressure is that one sector that you would probably advise investors to stay away from?

Yes, we clearly have that kind of trading advise to step aside as far as cement is concerned at the moment.


5500 on the index perhaps is pretty much the tipping point for July or you think we can make a dash of breaking that level and going beyond?

Yes, there is a possibility that we could go there and for that to happen as I mentioned earlier 5245 should not be broken on the downside, 5410 will be the first level that we will look for. It will then march towards 5460 and 5500 is clearly the next one that is in line.