Bullish on UltraTech Cement, target Rs 2750: Kunal Bothra

Kunal Bothra, Head of Advisory at LKP has a bullish stance on UltraTech Cement with a target of Rs 2750.

Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, " UltraTech Cement is one of the few cement stocks which has been showing a very solid pattern. It has been trading in a very tight range over the last couple of weeks. The momentum and the volume has been picking up. In terms of price pattern it is forming an inverse head and shoulder pattern. So, I believe the stocks' potential over the next couple of weeks is very strong."

"I believe Rs 2750 is a target which is fairly possible for UltraTech Cement and the risk reward is also extremely favourable. So, I am very bullish on the stock. One can keep a stoploss of Rs 2550 from a short-term perspective and a short-term target of Rs 2750 on UltraTech," he added.

Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended the stock to his clients at LKP.

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