Exit South Indian Bank, sugar stocks: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that one should exit South Indian Bank and sugar stocks.

Sukhani told CNBC-TV18, “South Indian Bank broke out of a narrow trading range and then it also reached its possible target. So at this point, I would say it is a trade, if anyone who has taken should have exited or should be planning to exit. Again it will take a lot of days before a new pattern comes. So at this point, it is not a trade on the long side, you wait for new signals.”
On the sugar stocks, Sukhani says, “The charts are very confusing because what sugar is doing is gyrating, it first goes up for seven days and comes down as it has now been doing. So clearly there is no sense of direction. This is happening to the entire sector not just to Balrampur Chini or to Shree Renuka Sugar. So when the entire sector becomes directionless, it is much better to avoid it and to say okay, it is not working out.