Buy Lanco Infratech on declines: Sukhani

Sukhani told CNBC-TV18, " Shree Renuka Sugars is headed lower. After the rally the sugar stocks were consolidating for 15 days but as we now understand that was distribution. Yesterday they all cracked. On the back of news sugar prices are going up and all the stocks have come down, so clearly the news was very well discounted. Much lower levels are coming in sugar. It is a very speculative sector at the very least. The only trade here in all of them is to go and sell it."

He further added, "I have become a big fan of Lanco Infratech on the long side but this stock is going to correct. So a correction from Rs 14.75 could bring it to Rs 13.25, there is a 10% downside. A trader who is a short-term trader and is nimble enough can take advantage and go short in Lanco hoping to catch this down move, at least part of it. For most others who cannot do short selling or are not actively participating it is better to wait it out. Let Lanco come towards Rs 13, then go and buy it."