Buy Coromandel Fertilisers; short term target 85-90: CK Narayan

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now talks about fertiliser stocks.

What is the call on fertiliser space?

As far as things like fertiliser stocks are concerned, what we need to do is try and marry expectations of government policy with whatever is the technical picture. In that context what we have seen in the charts of Coromandel Fertilisers seems to be something which fits the bill because it has been a real tiger on the charts for the stocks from the fertiliser space is concerned.

It had this really glorious run upward and it has pulled back very nicely to about 25 levels where it had reached some short term supports and it has now shown a willingness to bounce off those. So I would like to combine whatever is the news which has been released now and the technical picture on the chart of Coromandel Fertilisers maybe qualifies that as a buy among the whole lot. The others are okay too but not really looking for a buy as Coromandel is. Short term targets somewhere onto 85, somewhere onto 90 seems possible which leaves you with at least about odd 8% to 10% for me at the minimum.