Avoid getting into fertiliser stocks right now: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about fertiliser stocks.

Do you want to jump in on the fertiliser stocks and the way forward for them?

They are probably expecting some kind of policy but overall they seem to be fairly strong stocks because Chambal is at the higher end of its range, so I do not think it is really a good idea to get into them right now.

Maybe if the policy fails to deliver, then probably around 65-70 Chambal becomes a good buy because we have never really seen a trend. These stocks move in a wide range and right now they are all at the higher end of their ranges. With so many stocks at the lower end of their valuation multiples or at the lower end of their trading ranges, those would be much better stocks to buy.