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Aug 17, 2012, 11.08 AM IST
Short United Phosphorous, says Sudarshan Sukhani of s2analytics.com. It made a fairly bullish pattern and then broke out with style. It broke out on the back of back to back gains for three-four days.
Short United Phosphorous , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "United Phosphorous made a fairly bullish pattern and then broke out with style. It broke out on the back of back to back gains for three-four days and we thought maybe the bear market in this is over then it consolidated and that is also acceptable and then it broke down from the consolidation."
He further added, "It has made a bearish descending triangle, something that is fairly bearish pattern. So quite evidently the rally in United Phosphorous was just a relief rally. The bear market is not over, so we want to be
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