Keep a stoploss of Rs 220 in Orchid Chem: Gujral

Technical Analyst, Ashwani Gujral is of the view that in Orchid Chemicals and Pharmaceuticals one should keep a stoploss of Rs 220.
Gujral told CNBC-TV18, "Orchid is still consolidating its previous move, so I think with a stop of Rs 220 that can be traded back upto Rs 300 but all these depends really on whether the market is able to hold up that 4,530-4,550 zone, otherwise if we start falling back like we are doing right now I think all these moves will end by evening."
Disclosure:Analyst is long on Nifty but does not have any holdings in stocks.
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Source "moneycontrol.com"