Avoid sugar stocks: Ashwani Gujral

In an interview to ET Now, Ashwani Gujral, ashwanigujral.com gives his take on sugar stocks

What is your approach on the sugar space and are you initiating a trade there?

I have been avoiding sugar stocks due to a good reason. There are elections in UP. So I do not think there is great upside or downside because they have been battered with so much bad news that there is very little room to go down but good news also does not seem to be coming.

If you are a long term bull in sugar may be then you can buy and forget about them. Write them off, buy them like an option on a stock like Rs 30-Rs 35 stocks. I do not think there is a lot of trading merit either on the up or the downside.