Buy Coromandel with medium-term perspective: Ashwani Gujral
Coromandel looks good, so that can be bought with a medium-term type perspective at lower levels keeping a stop of about 275-280.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com (Technical Check), in a chat with ET Now, gives his call on fertilser stocks.
What should one do with fertiliser stocks now?
RCF is a weak stock, so I would not try to get into that but Chambal is making a fresh intermediate high. This could be even a multi-month high, so this is definitely looking like a buy here and once we can take out 104, it should rally towards 125-130 and again this is kind of a defensive because it is not impacted by global factors. Again Nagarjuna, etc., they are at the lower ends of the range bouncing up from there. Chambal is the only one, which is trying to break out from the higher end of that range. Also an old favourite, Coromandel looks good, so that can be bought with a medium-term type perspective at lower levels keeping a stop of about 275-280, look for targets of about 360-365.
What should one do with fertiliser stocks now?
RCF is a weak stock, so I would not try to get into that but Chambal is making a fresh intermediate high. This could be even a multi-month high, so this is definitely looking like a buy here and once we can take out 104, it should rally towards 125-130 and again this is kind of a defensive because it is not impacted by global factors. Again Nagarjuna, etc., they are at the lower ends of the range bouncing up from there. Chambal is the only one, which is trying to break out from the higher end of that range. Also an old favourite, Coromandel looks good, so that can be bought with a medium-term type perspective at lower levels keeping a stop of about 275-280, look for targets of about 360-365.
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