Buy Orchid Chemicals on dips: Sukhani

Sudarshan Sukhani, s2analytics.com advice traders to buy Orchid Chemicals on dips.

Sukhani told CNBC-TV18, “Pantaloon Retail looks more vulnerable because it has rallied from Rs 140-200 exclusively on the back of news. There is no significant base from which it moved up, so it is not sustainable. Even without the news Pantaloon would have been in trouble. Orchid Chemicals is a far better stock. Dips in Orchid should be used to buy.”
He further added, “One don’t short Tata Power. Adani Power has been weak; it has been under performing in spite of the big rallies we saw, as well as JSW Energy. Both are shorting candidates and in fact they are quite suitable for selling because they can act as hedge for any Nifty long positions.”