Buy United Phosphorous, says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "In Hexaware Technologies traders can go long after yesterday’s big move and say okay, let us see if this is bottoming out. If it is not then they must get out immediately. That is what stop losses are for. We are trying to buy virtually at what could be the lows of this bear market. We may not succeed. It is worth taking a chance."
He further added, "United Phosphorous is a good chart. After a lot of choppiness, decline, rallies then subsequent trading ranges, the chart was a mess but apparently that mess is now being resolved on the upside. There is clumsy but fairly decent basing pattern, a bullish head and shoulder. That has broken out. So I would be a buyer. But United Phosphorous is not a day trading instrument. If you want to build a position it is a very nice stock. Probably it will go much higher."
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