Medium-term target of 40-45 for Nagarjuna Fertilisers: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com, on his views on Nagarjuna Fertilisers.

ET Now: How do you view Nagarjuna Fertilisers?

Devang Visaria: Right now it is just trading near very crucial supports of 31.50-32.00 range. So with a stop just below 30.80, we are looking for a long trade on this one.

We are looking for targets of closer to 35-36 for Nagarjuna Fertilisers as a trading call, but on a medium-term basis, if it were to hold the 28-29 levels, you could have a decent upmove on this stock, possibly for targets of 40-45.

ET Now: Do you think it can climb up to 33 once again?

Devang Visaria: This is a stock which has been consolidating very much in a range between 26 and 29 and recently you are seeing a decent pickup in the volumes. So with a stop just below 26, closer to 25.50 or so, you have a decent trading call on this one. On the upside, we are looking for targets of 33-35 and 35 happens to be the 52-week high for this stock, So that becomes a logical target for the stock.