Buy Tata Chemicals for a target of 450: Rohit Shinde

Rohit Shinde, Head Technical Research, Nimbus Wealth Management, in a chat with ET Now speaks on fertilizer stocks.

What about those fertilizer stories on the charts?

Fertilizer stories is that like since past 3-4 sessions these stocks are doing extremely well something like a Chambal Fertilizer and RCF most of these stocks. so first we will go with Chambal Fertilizer now on Friday it had a very strong move. It went right up to 90 levels today unfortunately they are just cooling down, so I feel that most of this run up which happened in Chambal and RCF also went to around 110 levels on Friday. Again cooling off but among the fertilizer stocks which I could go with is Tata Chemicals may be not entirely a fertilizer play but kind of a pseudo fertilizer play that looks very very promising on the charts and definitely if I would like to recommend to buy a stock at these current level definitely Tata Chemicals looks pretty around 424 levels right now definitely look for a target of around 450 keep a trading stop loss of 410.