EID Parry is a good pick from sugar and agri space: Shrikant Chouhan

Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities in an interview with ET Now talks about sugar as well as the agri commodities space.

We are seeing a bit of traction in the sugar as well as the agri commodities space, how would you play it?

In sugar, we have seen very good rally in last one or two weeks but if you go through the overall pack, then I can say that it is still tough to say whether they can give us good returns from here or not.

In that space technically Renuka Sugar is looking very good to us because it has sustained the level of 85-84 on the lower side and it is managing to absorb its selling pressure around 90 levels, so if it is able to cross this 90 levels with good volumes, we can expect further more rally and we can expect something 110-115 on the higher side in next 2-3 months but it is broader call, it will take time.

If somebody really wants to invest on the select sugar side and on the agri side, then they can look for especially EID Parry still, which is quoting at 500 levels and technically we are expecting something 700 in next 3-4 months. Even on the agri side, we are looking for Kaveri Seeds, Monsanto, they are the bits to look for.

Camson Bio, which is again into the breakout mode, so there is action. The space is still untouched and volumes are there, so we can look for breakout stocks like Camson Bio and Kaveri Seeds even at current levels with a view of at least next 6-8 months.