UltraTech Cement may test Rs 1890-1900: Sahil Kapoor

Sahil Kapoor of Edelweiss RCM Research is of the view that UltraTech Cement may rebound to Rs 1890-1900.

Sahil Kapoor of Edelweiss RCM Research told CNBC-TV18, "I am seeing the cement rally more as a rebound rather than as a change of a trend. The short-term to medium-term trend in cements stock is still down and this short-term rally is possibly going to again end up facing a lot of selling pressure."

" UltraTech Cement possibly could see rebound towards Rs 1890-1900 and for Ambuja Cements  Rs 170-175 is a clear cut resistance level. So, I think these levels will again see sellers come back and possibly the stock should head downwards. Any rebounds in these stocks should be utilised to lighten up for the short-term traders," he said.

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