Anil Manghnani, Modern Shares & Stock Brokers is of the view that Chambal Fertilisers and Chemicals has trading target of Rs 79.

Manghnani told CNBC-TV18, "For Chambal definitely its out performing Nagarjuna, it has crossed February 28 levels where after the disappointment of the Budget since there was not much for the fertilizer pack, but it broke that day the highs of the Rs 67 and hit a major target of Rs 70-71 levels. So if it can trade above Rs 71 then next trading target is about Rs 79. Nagarjuna Fert is probably doing a much smaller retracement, the all time high is closer to Rs 90 but even the February 28 high is around Rs 59, so it’s still way off there, Rs 48.50 is a major resistance out there. If it can cross Rs 48.50 then probably it is headed towards Rs 59 again."

He further added, "RNRL is not one of my favourites, I think there is too much speculation in there Rs 112-113 is a major resistance, if it can cross that then probably Rs 123. But there is too much speculation out there, rather go for some of the largecaps which are still much way of their highs and much more fundamentally attractive."

Disclosure: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.