Do not chase fertiliser stocks: Ashwani Gujral

ET Now spoke to Ashwani Gujral, Chief Market Strategist, ashwanigujral.com about fertiliser stocks.

Is there a trade left in the fertiliser pocket either on the upside or on the downside?

These have generally proven to be good trades. When bad news comes in and you buy say Chambal around 65 and then you tend to get out around these 90-95 zones. You should not really push your luck with these fertiliser stocks, so do not chase them. Rashtriya Chemicals around 75 is a decent level, it is still to reach its potential of 110-115. If you have to buy them as an investment, then probably Coromandel or Deepak Fertiliser, they seem to be more steady bets. Coromandel if it comes down to around 235-240, you can ride it till levels of 360 and Deepak again, it started running from about 150, that tends to give you 215-220 but the rest of them are four up days and then four down days.