Chambal Fertilisers will be in an intermediate uptrend above 78: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about fertiliser stocks.

What about the fertiliser names, the likes of a Coromandel or a Zuari or Chambal?

Chambal surprising has not made such a large move. It is barely 1.5% up but nevertheless this is bringing Chambal closer and closer to that 78 mark above which it gets into a confirmed intermediate uptrend and once it is a confirmed intermediate uptrend and in the possibility of it lasting another week or 2, the rally becomes much better.

Coromandel on the other has made quite a strong jump. So the reactions have varied from stock to stock. Coromandel anyway was the strongest among the fertiliser stocks for couple of years at least if not more, so anytime there is any good news, that is the first stock that investors seem to go for.