See 5-7% upside in ACC, says Thukral

Hemant Thukral, Aditya Birla Money is of the view that one can see 5-7 percent upside in ACC.

Thukral told CNBC-TV18, "Yesterday the cement pack as a whole has seen huge aggressive long positions being rolled to the next series. The rollover cost has jumped and it has come in all, ACC, Ambuja and India Cement. But ACC especially because it has obviously touched a new 52-week high, it has closed above Rs 1,410 which was proving to a very big resistance. So I think that it has further room atleast 5-7 percent more room going forward in the next series, next one week atleast. So keeping a stop loss of Rs 1,386, one can go long and one can see a target of Rs 1,495."
He further added, "But I would suggest here that even if you are holding on Ambuja Cements also, I think it is perfectly alright because all the cement stocks have seen a surge in rollover yesterday with the rising cost."