Nagarjuna Fertilisers has resistance at Rs 30-30: IIFL

Nagarjuna Fertilisers has resistance at Rs 30-30, says Amit Harchekar, IIFL.

Harchekar told CNBC-TV18, "Nagarjuna Fertilizer has resistance in the zone of Rs 30 to 31. I do not see that stock moving beyond that but if there is a decline towards Rs 27.80 to Rs 28 that would be the good level where you will see a good amount of buying coming in and from that we might see stock going back towards Rs 31.50-32 which is a 200 DMA."
He further added, "The stock is facing resistance at falling resistance line, so at this level we might see stock retracing back towards the support zone of Rs 28."