Shasun Chemicals

I have purchased Shasun Chemicals and Drugs at Rs 140. What are its prospects? Should I hold it or sell? R M Kumarappan

Shasun Chemicals (Rs 11.4): The stock is trying to stabilize around the long-term support at Rs 12. But the formation since December 2008 points towards a bearish bias and a decline to sub-Rs 10 levels can not be ruled out over the next 12 months. You can sell the stock at current levels and consider re-investment on a weekly close above Rs 25.

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