A good 150 point move is possible on Coromandel: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about fertilizer stocks.

ET Now: What is your reading on the fertilizer stocks?

Ashwani Gujral: I do not think the spike is worth going long into but Coromandel we have sent that it generally finds resistance around 360. The day we take out 360 I think a large move can happen in Coromandel. Most of these stocks Nagarjuna etc. the downside is 28, the upside is closer to 40 so they are quite range bound. RCF 75 is the downside may be 95 is the upside but Coromandel is a one that keeps trending so out here if you keep a stop of about 300 odd and if it breaks out of 360 I think a good 150 point move is possible on Coromandel.