Buy Shree Renuka at current levels, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Shree Renuka Sugars charts are looking very attractive, in fact last week I had suggested traders should buy it and that suggestion still remains valid even after today's 4% gain. These 3-4% gains sound impressive in terms of percentage but now with their prices it is just Rs 1. So even at current prices Shree Renuka is a buying opportunity. Eventually if this trend sustains, I think it will reach Rs 37-38- or Rs 40, short-term traders will have to look for more modest targets."
He further added, " Balrampur Chini has confirmed a double bottom and is moving towards Rs 50. The same story is not applicable to fertilzers. At least for now sugar is a far better sector. I think fertilizers will remain choppy and it's also news based. Shree Renuka has broken out of a long trading range and it a buy even at current levels, keep a stop just under Rs 27 and look for a target of Rs 31 and then Rs 34."
