Sukhani‘s view on banking, sugar stocks

Sudarshan Sukhani, s2analytics.com view on banking and sugar stocks.

Sukhani told CNBC-TV18, “What is happening is that the banks’ charts are now getting a little puzzled. There is this set of private sector banks almost all of them which are showing signs of strength, the corrections we are seeing in them is just the correction. It is not the change of trend."
He further added, "In a number of PSU banks including Bank of India, Allahabad Bank, Indian Overseas Bank, the decline suggests the change of trend so whether the trend changes to the downside or not including most banks including Bank of Baroda and Punjab National Bank (PNB), the point remains that if you want to go for banks, it is better to go for the Bank Nifty or for the private sector banks. Unfortunately, I was getting upbeat on PSUs but charts have turned around and I don’t think there are buys. They should be sold because my sense is that the correction is ending anyway.” On Sugar Stocks:
Sukhani says, "Balrampur Chini was a buy in the morning today and sugar continues to run up, there was a mild consolidation that is over. All markets need some rest; sugar has gone through that process. I think these stocks will rise further. For Shree Renuka Sugars, for Balrampur Chini, there are quite ambitious targets. Bajaj Hindusthan has been an underperformer so it is better to focus on the first two.”