Shree Renuka may rally to Rs 34, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "Shree Renuka's target was Rs 34, it's almost near that level. I don't think there is any buying possible at current prices. Now prices have to cool off either consolidate or dip before fresh buying can take place. It's not possible for trades to be executed day after day. There is a point at which rest also needs to be taken. Now sugar is coming in that period of rest."
He further added, "Most of the midcaps that have run up are now ideal candidates for selling, first to exit long positions and then to go short in. So I would be studying a lot them GMR Infra , IVRCL but with the purpose of seeing is there a short now at these elevates level's, when they have run up on back to back gains. If the Nifty goes up above 4880 I would add to my long positions and still avoid midcaps."
