Exit National Fertilizers, says Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "In the near to medium-term perspective National Fertilizers has broken down from its important support level of Rs 35-36 two to three weeks back. Since then it has just been sliding lower. The trend remains negative hence my advice would be to exit on any meaningful bounce; probably Rs 34-36 would be a better exit opportunity. So, in case any bounce comes, my suggestion would be to exit from the stock."

"The level of Rs 35-36 is the breakdown point and it is now trading around its important support of Rs 29-30. So, purely with a near-term perspective there could be a possibility of some technical bounce towards Rs 34-36 where in one can think of exiting the stock," he said.