Prakash Gaba, Technical Analyst at prakashgaba.com told CNBC-TV18, "I would exit Ugar Sugar Works because it still looks weak to me. It can slide down further to levels closer to Rs 18. If one wants to enter, can enter at Rs 18. So far, technically it looks weak to me and it looks like it is coming down."
At 14:44 hrs Ugar Sugar Works was quoting at Rs 26, down Rs 1.30, or 4.76 percent on the BSE.