More upsides in UltraTech Cement, says Sukhani

Sukhani told CNBC-TV18, "In United Spirits I have become downbeat at Rs 700 and its come to Rs 850. It does appear that it’s tiring, so I would like to take a short sell here because I am not very upbeat on stocks that are influenced by news and have such group company problems. We have a stop loss and if it doesn’t work out we get stopped out or we could get stopped out even earlier on our own if the trend changes but as of now it seems that if not anything at least a correction is in the offing."

He further added, "UltraTech Cement is a dream and the same thing has been happening with Ambuja Cement and now with ACC, all of the cement stocks and it’s almost as if by stealth because it’s sort of under owned or under tracked sector. UltraTech doesn’t complete its rally now, it continues."

"After a small trading range it’s broken out and that tells us there is much more upside here. So cement is something where traders should be looking to buy, not just UltraTech but the other two also but for today UltraTech seems to be an excellent buying on dips opportunity for the day trader, for the swing trader."