Trading Calls: Buy Welcorp, Sell UltraTech Cement, recommends Mehul Kothari

According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.

SELL
ULTRACEMCO

TARGET: Rs 6,400

STOP LOSS: Rs 6,950

In the past one month; ULTRACEMCO has rallied from a low of Rs 5,630 towards the recent high of Rs 6,900 without any meaningful correction. The stock is now stuck again at the previous breakdown zone and also the placement of 200-day moving average. Thus there is possibility of some profit booking in the coming week. Traders are advised to sell the stock in the range of Rs 6,730 - Rs 6,770 with a stop loss of Rs 6,950 for the downside potential target of Rs 6,400 in the coming 2 to 3 weeks.

BUY