Best cement stock to buy for short term: Grasim vs Ambuja vs Ultratech Cement

Vishnu Kant Upadhyay, AVP-Research & Advisory at Mastertrust on Monday gave his views on cement stocks, with short-term upside potential, including Grasim Industries and Ambuja Cements Ltd. Upadhyay said Grasim has potential to rise towards Rs 3,500-3,600 levels and any correction on the counter, if any, could be bought into. Among other cement stocks such as JSW Cement Ltd, Ambuja Cements Ltd and UltraTech Cement Ltd, Ambuja Cements offers better risk-reward, Upadhyay in an inclusive interview to Business Today TV said.

Grasim Industries | Should one keep holding Grasim after recent rise?  On a query from a Hyderabad viewer by the name Sai, who is sitting on a 5 per cent profit on Grasim Industries, Upadhyay said the stock has given a breakout from the multi-month resistance that were aligning somewhere around Rs 2,975 or Rs 2,980 levels. Following the clearcut breakout and decisively price movement above the price zone made Upadhyay believe the rally should stay in fact, led by the growing technical tailwinds. He believes the stock has potential upside towards Rs 3,500-3,600 level. Since the stock has risen a bit and deviated too much from its key moving averages, Upadhyay said one should not rule out a possibility of some corrective fall in the prices. That said, he believes traders should not panic on any such corrective.

"Keep accumulating Grasim stock as long as prices are above Rs 3,000 level," Upadhyay.

Ambuja Cements, JSW Cement, UltraTech Cement: Which one offers better risk-reward?  

A BTTV viewer from YouTube, GD Rao from Andhra Pradesh, asked about the outlook for UltraTech Cement and JSW Cement and wondered which is the best cement stock to trade for short-term. To this, Upadhyay said, apart from Grasim Industries, Ambuja Cements is consolidating just above its 21-day exponential moving average. 

"From a better risk-reward because you UltraTech has a high ticket size, I believe Ambuja Cements could be a right pick from the present juncture. Keep a stop loss below Rs 425 for targets of Rs 465 and Rs 485," Upadhyay said.

Here's link to the full BTTV video:-

Here's how you too can participate LIVE in Daily Calls show every trading day at 12 pm on Business Today Television (BTTV) to get answers to stock specific queries:-

Daily Calls contact details

-WhatsApp number: 7303080488 | You can send us your questions along with your name, location, and your contact details.

YouTube: You can use the YT comment section to send us your stock queries.