Sell Orchid Chemical; buy Rallis India: Sukhani

Sudarshan Sukhani of s2analytics.com feels that Orchid Chemical probably going into double digits so it is a short sell while Rallis India is an investment stock one can buy with six months perspective.

Sukhani told CNBC-TV18, “After that big decline Orchid Chemical went into a consolidation. I had suggested that it was probably going into double digits and that it now seems ready to do. It is breaking down from that consolidation. These consolidations are quite often midway, so there is lot of downside left in Orchid. It is a short sell and in any case it is not a buy at all.” He further added, “Rallis India is a much better chart, I am not sure why maybe lot if it is because of sugar. Yesterday, we had very big spike that did not sustain but the message still seems to be that the stock opened with a gap. It is already above its lows that it made. So it’s out performing the Nifty and broad market. This is an investment stock rather than a trade. I don’t think Rallis is easy to trade in but if it dips, if it consolidates it is a buying opportunity for someone who wants a six month position.”