Parag Doctor, head - trading strategies at Keynote Capital’s told CNBC-TV18, “It is difficult for Orchid Chemicals to go back to Rs 84. The stock has been in a downward trend and last time we covered it a month back on your channel and it was around Rs 70 and we had recommended an exit and still that view continues.”
“The stock has some kind of support around Rs 50 and if that were to break it would slide further. It is best to move to largecap pharma names like Lupin and Dr Reddys where the visibility is much greater and the next part of the rally would be definitely led by the larger cap names,” Doctor said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
