Staying with Coromandel in fertiliser space: Sharyans Resources

Fertilizer space, any favourites from this entire pack. Coromandel International over the last few weeks has performed really well a very divergent move from the rest of the pack would you like that one or you have some other stock on your list?

CK Narayan: As far as fertilizer is concerned budget is over so where is the charm in fertilizers any more that is the way the market always actually thinks because they are favourite plays for budget but then this news should be welcome. It should be a bit of a shot in the arm I do like Coromandel Fertilizers and I have actually mentioned that in earlier shows also as one of my favourite buys. If you do look at the charts it is one of the stocks where there seems to be some evidence of some sort of pattern completion. If you had a pattern completion and there is a chance for that particular stock to stage a rally. So I think from the larger pack I would certainly try and swim with Coromandel fertilizer but even though it is not a gainer.

The other one which I would look at which is not let say from the front line as far as the fertilizer pack is concerned but there I do like the way the chart has shaped up there is Khaitan Chemicals & Fertilizers which is at about Rs120 odd. This was one of the stocks which had moved aggressively earlier and has also been a fair participant on the decline. I think the stock has moved on into levels of support. There are price gaps, there are retracement levels where it has moved down into, it is now slightly consolidating over a period of time so Khaitan at about 120 is not a bad bet. I do not see too much of a downside and there is a decent amount of upside for the stocks who into smaller retail players could certainly take a look at Khaitan.