Anil Manghnani of Modern Shares & Stock Brokers is of the view that Orchid Chemicals should be bought on deeper falls.
Manghnani told CNBC-TV18, " Orchid Chemicals, very difficult one to call I think it hit a 3-4 months highs at around Rs 326 yesterday and that’s why its probably falling, but the move has been so veracious that any fall would be a buy. Where to buy is a very difficult to call, there is too much corporate action, too much rumours out there."
He further added, " But I think every time it comes closer to Rs 300-330, its going to see selling pressures because that’s being top end of the range in the last 6 months, and I think somebody buying the buy back should wait for deeper falls and not probably at these levels."
Disclosure: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.
Source: Moneycontrol.com
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