Way2Wealth view on cement stocks

Agarwal told CNBC-TV18, "If we see cement counters, then we saw some selling pressure in last one or two trading sessions but today again we are seeing some bounce back in cement sector from lower levels. But overall if you see cement sector then HCC , Ambuja Cements  - both these counters are trading around the very strong resistance level. At this point of time we wouldn’t be giving any long positions in all the cement counters as they are trading around the very strong resistance. We are seeing some sign of profit booking from high levels. We have already seen a good rally in cement counters. I think it’s a good time where one can book profit in their long positions and any 2-3% bounce back is there then again short positions can be initiated. We can see some selling pressure in cement counters in the next couple of trading sessions."