Shree Renuka can add Rs 10-15: Mathew

Technical Analyst, E Mathew is of the view that Shree Renuka Sugars can add Rs 10-15.

Mathew told CNBC-TV18, "I am still not convinced though, when one looks at something like a Renuka Sugars, there is a ray of hope. Balrampur Chini or a Bajaj Hindusthan still looks like a pullback rally to me. I think Renuka Sugars possibly is the only stock, which is indicating that even now in this sort of a market it would still move up by other Rs 10-15. I would like to see the entire pack exhibiting at least in the short run, a pattern of higher bottoms and higher tops, which really is not emerging. I would therefore maybe play the trading bounces and try to exit at higher levels." 

Disclosure: It is safe to assume that analyst and his client may have an investment interest in the above stock/sector.