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Jul 12, 2012, 08.23 AM IST
Short Chambal Fertilisers, says Sudarshan Sukhani of s2analytics.com.
Short Chambal Fertilisers , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "Chambal Fertilisers is now heading into Rs 80-85 which is a significant resistance point. After some choppiness, it had a rally which is 10 points, which is about 15% and that is enough for Chambal. To my reckoning Chambal is now a short idea. It would be wise to sell it and see it come back to the low of Rs 70 again. So there is around 10% move that is possible which is attractive. It is a sell for me.”
He further added, "I would go long in Manappuram Finance . It rallied and then after a rally, for 10 days or so, it went flat in a consolidation. That is a perfect chart pattern, a rally, a consolidation and hopefully a new rally. So this is the easiest and the safest chart to trade on the long side. Go long in it, be patient. Even if the market corrects, Manappuram could do much better.”
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