Chambal Fertilizers best bet in the fertilizer space: Sandeep Wagle, APTART

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about Chambal Fertilizers and the fertilizer space.

On the fertilizer space, what would you say about the moves right now? On an intraday basis, they have spiked up quite significantly. Amongst the lot, which would be your favourite?

I can talk of a 5-7% to 10% upside over the next 2 to 3 days and this is what happens when there is a pre-Budget move. Most of the stocks are Budget to Budget movers, I would talk of that.

Though I would not be very much bullish, I would talk of a Chambal as my best bet among the fertilizer space and we can talk of a target of somewhere around 78-80. It is currently at 74. So I look at a 5-7-8% upside. But unless it sustains above that - it will all depend on the market day - I cannot really talk of it. If the Nifty breaks off and goes beyond 57, then Chambal can go to even 90.

But as of now, I would be comfortable talking to around 78 to 80 and a short term buy with a 3-4 day time horizon is what I would talk of.