Look at sugar stocks only from intraday perspective: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about sugar stocks.

What else are you recommending, there is move in fertilizers and sugar once again would you play them before the budget?

Sugar has been swinging hugely both ways and there is even a difference turning up now in individual stocks if you look at last week for instance Balrampur Chini which was one of the beaten down stocks did pretty well and Renuka had a pretty bad week so even within sugar we are seeing sort of a churning of preferences that may be very short term but overall sugar I think is best to right now restrict trades to intraday or may be just 48 hours because no trend has clearly emerged here.

They have been making strong moves in both directions which means stops or trades are likely not to last more than 2 days whether they are long or short. Fertilizer is a little more promising it is much more promising than sugar anyway all those stocks have sort of pretty close to their uptrend breakout levels, Chambal in particular but only Coromandel with though it is down sharply today it has made something of a move but overall that pre-budget rally in fertilizer is attempting to happen and should the market permit, if the index does not start falling heavily again we could see fertilizers doing pretty well.