The momentum in fertilizer started with the largest company in the sector – Coromandel Fertilizers which recovered the fastest and hit a new 52 week and all time high. A lot of agrochemicals and agri related companies have seen new 52 week highs – Rallis India, PI , Dhanuka etc.
Three interesting Fertilizer Charts.
Mangalore Chemicals – Nearing a 1 year resistance. Good volumes today.
GNFC – Good volume action since last few days and crossed above recent intermediate highs of 150.
Chambal Fertilizers – Insider Trading Disclosures suggest consistent buying by Promoter entities. Stock needs to cross 145 resistance for momentum.
Other Fertilizers on radar would be – GSFC, RCF & Zuari Agro.
Disclosure – Some of the above stocks have been recommended as trades.
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Source: Technical Analysis of Indian Equities by Nooresh