Orchid Chemicals may move higher: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Orchid Chemicals.

How does Orchid Chemicals look on the charts?

Orchid tends to have sharp rallies and sharp declines. It generally declines to about 260 and then rushes back to 340. In case results are decent, you could still have an upside of 310-315 immediately. But overall, pharma space seems to be a bit defensive, the market seems to be in a slow uptrend. So as long as the market holds up, these are the stocks which will move higher.