Exit Ambuja Cements, says Mohindar

Rahul Mohindar of Viratechindia is of the view that one can exit Ambuja Cements.

Mohindar told CNBC-TV18, "If Ambuja really closes above Rs 86-87 that is when I would think that this would really break out. So in the entire run up that we saw over the last two weeks, I would largely say it was not really backed by fierce volumes and that is exactly why it is not getting the throughput of a breakout. So I would wait for Rs 87 to be broken out; buy a little higher but buy at the same time safer when a trend is set in. So as of now I would possibly exit and wait for a clear signal on the upside."