Orchid Chemicals can move to Rs 200: Sukhani

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Orchid Chemicals can move to Rs 200: Sukhani

Orchid Chemicals can move to Rs 200, says Sudarshan Sukhani, s2analytics.com.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Orchid Chemical See messages about Orchid Chemical

Orchid Chemicals can move to Rs 200, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, " GMDC is more in a trading range. It is possible that it is suggesting that we could go through a correction. So we are trying to take advantage of a downside correction rather than anything else. But it's a stock that can be considered also as a hedge towards any long positions in stocks because it is not moving up in a hurry."

He further added, "Orchid was a stock that went up, came down fairly, then it staged a small rally. Now it appears that eventually it has decided that it would like to go up rather than move further down. That's also in tune with what the market is doing."

"It does suggest a level of eventually Rs 200 plus but a short term target of Rs 183 is likely. I just heard that there is going to be some news also, so it is not necessary that the news affects only 2G related stocks. Sometimes the market sentiment can change. So stocks should be kept on all short term positions."