ACC, Ambuja Cement may slip further: Sukhani

ACC and Ambuja Cement may slip further from current levels, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “I would short both ACC and Ambuja Cement, they have been on my sell list earlier also and Ambuja and ACC have both completed their intermediate tops, they are making distribution patterns and I think fairly decent corrections on the downside are likely. For the investor you wait patiently for the corrections to come, prices to be 15-20% lower and for the trader there is money on the downside by selling them.”
He further added, “HDIL, last week was also real estate stock that was interesting on the long side that persists. What happened was that HDIL was in a trading range for almost 3 weeks. When the market was going up and down it did not do anything, it did not participate in the decline and the rally. That trading range has broken on the upside. So there seems to be some interesting moves on the long side. Every opportunity in HDIL to go long should be taken; it could easily go against the broad market.”