Buy sugar stocks on dips: Sukhani

Technical Analyst, Sudarshan Sukhani is of the opinion that momentum traders can buy sugar stocks on dips.

Sukhani told , "Shree Renuka is touching all time highs so that is certainly the leader in this pack. Balrampur Chini has a better chart because it corrected much less as compared to Bajaj Hindusthan, but beyond that, probably Bajaj Hindusthan had run up more than it was justified. So essentially the message is that sugar is a buying opportunity for momentum traders, I don’t know about investing in this sector, it’s difficult to make that judgment, but this is all about momentum. So in sugar you go long and if you buy it on the dips you are going to make some money on these stocks."