Would stay out of sugar stocks until there is some stability: Deepak Mohoni, trendwatchindia.com
Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about the sugar stocks.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about the sugar stocks.
There still are bottoms to be made in most of the sugar counters. So do you think it has already been done and probably bottom fishing right now could be a strategy that could be utilised?
They are still falling quite rapidly. They do have these one or two bounces now and then but every time the bounce is over, we see new lows again. So their trend is clearly down. There is not even a base formation here, they are just going down. Until there is some stability, I would stay out of sugar.
There still are bottoms to be made in most of the sugar counters. So do you think it has already been done and probably bottom fishing right now could be a strategy that could be utilised?
They are still falling quite rapidly. They do have these one or two bounces now and then but every time the bounce is over, we see new lows again. So their trend is clearly down. There is not even a base formation here, they are just going down. Until there is some stability, I would stay out of sugar.
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