Buy Chambal Fertilisers only if it crosses 66: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com spoke to ET Now on Chambal Fertilisers.

Chambal Fertilisers you seem to like with a target of 66.50. Are you using this as a benchmark for the entire fertiliser pack or what do you particularly like about this stock?

Chambal has got good trading volumes. So that is really the reason it has been picked. Apart from Chambal, Nagarjuna Fertilisers trades fair amount but there is not that much volume in individual fertiliser stocks and stocks like National Fertiliser are really that disinvestment play.

So they do not even necessarily behave the same way. So given all that, it is a very Chambal specific move but I would now buy it only if it crosses 66 and then buy it as a day trades with a stop loss of 65.50. It has gone into a bit of a range and you will need to play a breakout now, not just buy it in right now.