Ambuja Cement top pick in cement space: Sukhani

Sukhani told CNBC-TV18, “Cement is having a mini bull market of its own. A small correction in cement seems to be getting over. So this entire sector appears to be a swing trading opportunity. My favorite pick is Ambuja Cement which is making new highs. Stocks that make new highs are always to be preferred.”

He further added, “The sense is that the markets are at some kind of a top. So October gives an impression of some kind of decline. It is not just the Nifty, individual stocks are also reaching 50 day highs. Some of them are reaching even more. So here is a level at which stocks should consolidate. My own sense is that the first week of the new series may not be a very attractive trading opportunity, but there will be small pockets just as I explained about midcap IT that there are first signs of life, there are some signs in the pharma sector, the pharma sector went through a correction of some kind when the other stocks were going up. Now the other stocks are stopping and stocks like Ranbaxy and Sun Pharma are looking attractive on the upside. My point here is that there will be individual stocks where buying and selling would be done, but for the Nifty I expect 5750-5720 to act as a very strong resistance. Once that level is crossed then I think we will go very fast towards 6000