Sector on Radar–Fertilizers–Chambal Fertlizers, Deepak Fertilizers, GNFC

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.

Mangalore Chemicals

GNFC – Good volume action since last few days and crossed above recent intermediate highs of 150.

GNFC breakout

Chambal Fertilizers – Insider Trading Disclosures suggest consistent buying by Promoter entities. Stock needs to cross 145 resistance for momentum.

Chambal Fertilizers

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

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