Sudarshan Sukhani of s2analytics.com feels Ambuja Cements is likely to rally rather than fall. According to him, it is a buying opportunity.
Sukhani told CNBC-TV18, "Ambuja Cements is likely to rally rather than come back. It has made a fairly bullish pattern and it is going up. We have seen some of the stocks do very well after the numbers that is a risk. So the advantage of taking before the numbers because momentum is already favouring the upside and that is why Ambuja is favoured as buying opportunity. Since it is in the futures and options segment, we always have the opportunity of going long in using options rather than futures."
At 12:58 hrs Ambuja Cements was quoting at Rs 193.40, up Rs 3.40, or 1.79 percent. It has touched an intraday high of Rs 194.40 and an intraday low of Rs 191.30.