Exit Orchid Chemicals around Rs 80-85: Parag Doctor

Parag Doctor, Head of Trading Strategies at Keynote Capital advised exiting Orchid Chemicals at around Rs 80-85 levels.

Doctor told CNBC-TV18, “Technically Orchid Chemicals has been an underperformer and we expect that to continue. There could be a rally maybe into Rs 80-85 zone which is where there is resistance for the stock. So we advise to exit his holding around that level.”
“If the sentiment of the midcap stocks improves he could get that Rs 80-85 kind of level and he should then switch to large cap pharma stocks like Lupin, Sun Pharma or Cipla. The visibility for those stocks would be much better in the longer term,” Doctor added.