Go long in Aban Offshore: Sukhani

Go long in Aban Offshore, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Aban Offshore has flattered to deceive so many times. It builds a base and then it falls apart. This time again its building a base and at a much lower level because it keeps on coming down, so maybe this is it. At this point Aban should be considered for a long only idea, not shorting it. But it has to break out to prove that this the final low for the stock."
He further added, "Because sugar stocks are mildly bullish there is momentum in Balrampur, so it is classified as a buy but in reality I wouldn’t touch it. It has a horrible chart; it is in a trading range for three months now and doing nothing. So it is really a tribute to sugar where some momentum is on the upside. That is why I am saying Balrampur could be bought into but why would anyone do that?."