Shree Renuka Sugars has target of Rs 40: Sukhani

Shree Renuka Sugars has target of Rs 40, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I have been approaching Shree Renuka Sugars with a long bias for a long time. My point is that at Rs 25 we had said go and buy it, at Rs 27, at Rs 29, at Rs 30 and it is Rs 34 now. The targets for this are still Rs 40. But after these big rallies, all stocks correct. If I tell viewers to go and buy it now, it will be unfair to them. So this is not a good time to buy sugar. We have seen spectacular rallies, they inevitably will correct that is the time to reenter. The trend is up."

He further added, "If I compare IDFC with Shree Renuka, it’s a much better chart. The advice is to wait but in case of IDFC, it is consolidating, breakout and consolidating again, something that a wonderful bull market chart does. I am fairly upbeat on IDFC, we have a target of Rs 160 and that could easily be exceeded. This is not a day trade, you buy it and hold it or you keep on trading on the long side and keep on seeing that you have some positions in IDFC always. It is an excellent chart to be in."