Ambuja Cement can go up to Rs 124-125 levels

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Ambuja Cement can go up to Rs 124-125 levels

Technical Analyst, Prakash Gaba is of the view that Ambuja Cement can go up to Rs 124-125 levels.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Ambuja Cements See messages about Ambuja Cements Ambuja Cements BSE | NSE 28/05/12 Are Mutual Funds betting on Ambuja Cements?

Technical Analyst, Prakash Gaba is of the view that Ambuja Cement can go up to Rs 124-125 levels.

Gaba told CNBC-TV18, "Cement seems to be a bit safer in this kind of upmove. The structures in the lower regions are very good; I would say the downside is limited."

He further added, "From the cement pack safer bet would be Ambuja Cement at Rs 108-110 levels. This is a very strong support to bounce from. In the short term a good trading call, could go to Rs 124-125 levels. Structurally it says it can go up. I won't have a stop loss in this. It's a good trading call. If it comes down keep buying it, structurally it says its coming down to go up. If one has a capacity to hold for a slightly longer time then safer bet."

Disclosure: Analyst holds the above mentioned stock in his portfolio.