Shree Renuka has target of Rs 37: Sukhani

Sukhani told CNBC-TV18, "Shree Renuka Sugars immediate target is Rs 37 and I the eventual target for this upmove is about Rs 40, so it is a buy. The problem is it has had a fantastic run up. If somebody goes and buys it immediately, he/she may have bought it just when the stock starts a correction or a consolidation. So now, timing has become important but for a position trader it doesn’t matter because if you buy now hopefully you will get Rs 40 anyway but for the short-term trader it is far better to wait for some kind of correction and then enter it."

He further added, "IDFC is one of the better stocks now, it has completed its bear market and it is now renewing its new bull market with proper patterns. It made a bullish head and shoulder broke out, it has just made a larger pattern, it broke out on Friday. So any dip in IDFC should be bought into. I think it will outperform and an immediate target for the stock is Rs 160-165. A more modest target is Rs 146 for the day trader either case if there is a dip or a slide in the stock price that is a buy."