Short UltraTech Cement, go long in ACC: Siddarth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "UltraTech Cement from short-term perspective has gone up without any formation of long positions and it is nearing its resistance. We do not see significant upside probably in next 10-15 days. At the same time ACC is bouncing from its support, very near to its strong support and we have seeing some formation of long position yesterday though there was unwinding.""In the initial part of December series, we have seen good build-up happening in ACC around Rs 1,330-1,350 levels and in the kind of market we are, if those were short positions, ACC should have been down significantly from current level like banking or infrastructure space. But the stock is holding on, so I am assuming that those are long positions formed near support and hence from 10-15 days perspective, I would suggest this pair trade where you can short UltraTech Cement and go long in ACC," he said.