Orchid Chemicals has resistance at Rs 259

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Orchid Chemicals has resistance at Rs 259

Technical Analyst, Rajat K Bose is of the view that Orchid Chemicals has resistance at Rs 259.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Orchid Chemical See messages about Orchid Chemical Orchid Chemical BSE | NSE 28/05/12 Are Mutual Funds betting on Orchid Chemical? Other Stocks in this news Tata Teleservices (Maharashtra) |

Technical Analyst, Rajat K Bose is of the view that Orchid Chemicals has resistance at Rs 259.

Bose told CNBC-TV18, "If Tata Teleservices were to cross Rs 25 and stay above that then the first hurdle would be around Rs 27-27.10 and then next step would be Rs 29 and it is looking bullish."

He further added, "Orchid has been a good run from about Rs 225, I have looked at the near month futures chart, there is a resistance around Rs 259. If that level is touched then there could be some profit booking at that level, otherwise its having quite a bit of momentum but I would definitely advocate some profit booking around Rs 259 levels there."