Shree Renuka Sugars may move to Rs 35: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Basic structure of Shree Renuka Sugars is weak. There is a base formation going on. I have no idea how long will it form the base but once the base formation is over it can see move around Rs 30-35 zone that is the are to exit. I don’t know why would anyone hold a stock which is so weak. If I had this stock I would really exit and switch money to something else."

"I will go in for ITC for long term. It is very good to me because it is falling down, structurally it is good, trading near the support. Buy its and hold for long term. It is a safer bet," he said.