Avoid sugar stocks for now: Kunal Saraogi

In a chat with ET Now, Kunal Saraogi, Technical Analyst, www.equityrush.com, talks about the outlook of sugar stocks.

Other than Shree Renuka Sugars and Bajaj Hindustan, are there any other sugar counters that you would probably like at this point from the smaller stocks?

I would rather stay away from sugar for now. If you look at the overall trend, they continue to be in a longer term downtrend, continue to form lower tops on the charts. So, it is certainly not a sector I would like to put my money in, not until they break critical level and those levels are quite far for now. So I would rather wait and watch and not put my money there for now.