Sakthi Sugar may slip to Rs 70: Gujral

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Sakthi Sugar may slip to Rs 70: Gujral

Technical Analyst, Ashwani Gujral is of the view that Sakthi Sugar may slip to Rs 70.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Sakthi Sugars See messages about Sakthi Sugars Sakthi Sugars BSE | NSE 30/05/12 Are Mutual Funds betting on Sakthi Sugars?

Technical Analyst, Ashwani Gujral is of the view that Sakthi Sugar may slip to Rs 70.

Gujral told CNBC-TV18, "I think fertiliser is still kind of hanging on but sugar definitely seems like case of breakdown and particularly smaller stocks things like Sakthi Sugar could be headed to levels of Rs 70."

He further added, "For Bajaj Hindusthan Rs 185-190 was a key level. Having broken that down, it is probably now headed to Rs 150. Sugar does not seem to be a buy on dips anymore like autos. The good news is out there so probably people should stay away from trying to buy dips in both of these sectors."