The price shows a breakout of a major double bottom pattern on the daily time frame.
Dolat Capital recommended accumulate rating on Chambal Fertilizers with a target price of Rs 185 in its research report dated May 17, 2019.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 16.5 points or 0.16 percent. Nifty futures were trading around 10,415-level on the Singaporean Exchange.
The Union Budget 2018-2019 on increased spending on affordable housing, infrastructure, and rural economy along with no major changes in the direct taxation structure would be sufficient to sustain momentum in the markets, suggest experts.
The growth in the profits could also be attributed to changes on account of inventories and a reduction in finance cost, which the company expects to continue in the coming quarters.
On the BSE Index, over 100 stocks hit fresh 52-week high including names like Bata India, TVS Motor Company, Dabur India, Deepak Fertilizers, Kolte Patil Developers and Chambal Fertilizers.
Mitessh Thakkar of mitesshthakkar.com suggests buying Jain Irrigation, Chambal Fertilisers, Raymond and Steel Authority of India.
Here are some trading ideas for today:
Sudarshan Sukhani of s2analytics.com is upbeat on NTPC. The stock is making those new highs in this uptrend and new highs are always bullish. It‘s probably bottomed out and made a V shaped reversal.
On CNBC-TV18's show Super Six, market gurus Parag Doctor, Head - Trading Strategies, Keynote Capital, Manas Jaiwal of manasjaiswal.com and Arunesh Madan of Augment Investment, place their bets on two stocks each, thus offering investors a variety of options to choose from.
SP Tulsian, sptulsian.com shares his view on fertilizer space.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shares his calls on the ADAG stocks that saw a bounce today and the fertiliser sector. He says as Reliance Industries is looking to use the infrastructure of Reliance Communication, it is probably the reason for the bounce in the stock.
SP Tulsian of sptulsian.com in an interview to CNBC-TV18 citied views on stocks across various sectors.
Picking his multi baggers ideas for the day, Vijay choose Chambal Fertilizer and DCB. He sees the upcoming urea decontrol and demerger of shipping arm of Chambal Fertilizers as major kickers for the stock.
Unicon Investment has come out with its earning estimates on fertilizer sector for the quarter ended Sep 2011. According to the research firm, Chambal Fertilizers Sep quarter net sales expected to go down by 21.6% at Rs 1203.2 crore, year-on-year, (YoY) basis.
In an interview with CNBC-TV18, SP Tulsian of sptulsian.com gives investors his cues on how he reads specific stocks and sectors during these turbulent times in the market.
Salil Sharma of Kapoor Sharma and Company feels that one should buy Chambal Fertilisers on dips.
Delta Corp may test Rs 110-112, says Salil Sharma, Kapur Sharma & Co, Salil Sahram Polycom.
According to SP Tulsian of sptulsian.com, the outlook for the market is bleak. “On the first day of expiry, that too of an elongated series, if we have this kind of a fall, I don’t think that there is any respite in any direction for the traders” he said.
Experts' give their top picks for the F&O segment today.
Invest in Chambal Fertilisers, says Kalpesh Gohel of AK Stockmart.
Udayan Mukherjee, Managing Editor, CNBC-TV18 believes that due to yesterday’s sell off, today was a grinding session with Nifty, closing at 5550.
Siddharth Bhamre of Angel Broking has advised sticking with Chambal Fertilizers.
UNICON has come out with its earning estimates on Fertilizer sector for the quarter ended March 2011. According to the research firm, Chambal Fertilizers March quarter revenue are expected to go up by 18% at Rs 832.4 crore, year-on-year, (YoY) basis.
Prefer Arvind and Alok Industries in textile space, says Devang Mehta, Anand Rathi Financial Services.