Exit Ambuja Cement, says Siddharth Bhamre

Exit Ambuja Cement, says Siddharth Bhamre of Angel Broking.

Bhamre told CNBC-TV18, "I don’t know much about Volume Weighted Average Price (VWAP), but what I am seeing from open interest perspective and the stocks where volatility would be seen though we won’t take part in it is Ambuja Cement, Cairn and ONGC."
He further added, "ONGC has added huge amount of long positions in last expiry and have seen less of rollovers, so those rollovers might take place. Cairn India has added significant positions but the rollovers are less, again there some action might happen. Ambuja Cement is not seeing very good rollovers. The rollovers are very low and the open interest has also reduced significantly. The stock is at its crucial resistance of Rs 178-182 zone. We would strongly suggest those who are long just move out of this stock."