Expect downside in United Phosphorous: Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "United Phosphorous is a very choppy chart. It is giving a sense that it goes up and comes down and because bottoming out process takes a long time the choppy conditions can be used for short-term trades; the keyword here is short-term."

"United Phosphorous is currently breaking down from a trading range. There is some downside here. So, somebody who is looking at a quick trade, it is worth taking; sell Futures, put a stoploss and get out at a small modest target," he adds.

At 10:32 hrs United Phosphorous was quoting at Rs 132.40, down Rs 1.10, or 0.82 percent. It has touched an intraday high of Rs 134 and an intraday low of Rs 131.60.

The share touched its 52-week high Rs 167.50 and 52-week low Rs 111.30 on 05 June, 2013 and 15 November, 2012, respectively. Currently, it is trading 20.96 percent below its 52-week high and 18.96 percent above its 52-week low. Market capitalisation stands at Rs 5,860.08 crore.