Technical Analyst, Rajat K Bose is of the view that above Rs 23, one should take fresh position in Nagarjuna Fertilisers.
Bose told CNBC-TV18, "Fertiliser stocks are looking quite good after yesterday’s rally but then you don’t feel like buying into them right away. I would say that once Nagarjuna Fertilisers crosses the crucial level of Rs 23 then only I think you should be moving in for fresh positions."
He further added, "DCB is suggesting a short-term reversal but unless and until it crosses Rs 41-42 range, it would not qualify for an intermediate-term reversal. Of course for the day initially if you are nimble fingered you can actually go for a long position but no investment buying is warranted here."
Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.
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