Go long in Ambuja Cements; short Cadila Health: Aditya Agarwal

Aditya Agarwal of Way2Wealth Securities told CNBC-TV18, "Cement sector has not performed well in the market in the last couple of months. Similar was Ambuja Cements. It was trading in a range and in that range, it has made a double bottom around Rs 185 levels and gave a breakout of about Rs 200-201 level last week. We are seeing some follow up buying in Ambuja Cements and we are seeing some fresh long positions getting built up at current level. So, this is a good candidate to make long positions. We are expecting that the stock may test Rs 213-215 levels in the next one or two weeks. So, at current level, one may go long keeping a stop loss of Rs 197 and target of Rs 213-215.""Cadila Healthcare saw a rally from Rs 300 to Rs 335 levels, but on higher side, it failed to breach its resistance zone of Rs 338 and from those levels, we are seeing some long unwinding pressure. Now, we are seeing some fresh short positions getting built up at current level. So, overall, we are expecting that the stock will continue to trade with a little bit of negative biasness. At current level, it is a good shorting opportunity with a stop loss of Rs 338 and on the lower side target will be Rs 310," he said.