Tuesday 11 November 2008

Exit Chambal Fertilisers below Rs 46: Bose

Technical Analyst, Rajat K Bose is of the view that one can exit Chambal Fertilisers and Chemicals below Rs 46.

Bose told CNBC-TV18, "Chambal Fertilisers has come to its resistance zone from Rs 50-55, there could be a lot of supply pressure but once it clears Rs 55, we will see this stock actually going up pretty strongly. So I would be watching it how does it react to that resistance zone between Rs 50-55. On the downside support especially if you are long, then the support is at Rs 46 below that get out of the stock."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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