Sell United Phosphorus, says Sudarshan Sukhani of s2analytics.com.
Sell United Phosphorus , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "United Phosphorus had a rally and we though may be the bull market is now coming back and it did not. It had a inverted V shaped decline, went up and then fell down in a straight line.”
He further added, “It has been in a small consolidation for three days, that consolidation we assume will break again on the downside. The trend is down, the consolidation should move on the downside, go and sell it. In any case today the selling list is lighter, so whatever is available should be considered on the short side also.”
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Market technically overbought; paper supply to weigh: Dutt