Sugar Sector has been in a downtrend for quite a long time now............approx six months. But let's not forget that this sector had gone up 4-6 times in the year before that. Being a commodity sector which is regulated by the government, the fortunes of this sector are mostly guided by the govt. policies. The lifting of ban on exports can revive this sector. Technically speaking, one can expect some kind of bottom being reached soon in this sector. The stocks which can be accumulated on falls are Bajaj Hindustan, Oudh Sugar, KCP Sugar.
One can start entering Bajaj Hindustan around 195-200, Oudh around 80-84 and KCP around 26. These can be good starting levels of entry in a staggered manner.
Cheers!
Superstar
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1 comment:
Dear Yap,
I don't track Mawana actively, so can't comment on that. But that stock is not on my list of buys in this sector. Better stick to quality stocks in this sector, if at all you have to.
Cheers!
Superstar
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