Chambal Fertilisers and Chemicals is much lower than where it was. At Rs 92 we were all expecting that it’s going into some new highs finally after 15-20 years. That didn’t happen. At Rs 72 Chambal was down again on Monday. It had two up days, down again, but the broad trust of this stock is now on the downside. So Chambal is really a sell rather than anything else. First there are two things, it’s not a buy and if at all somebody wants to trade you should be looking to go short and to sell it rather than to do anything else."
He further added, "Technically United Phosphorous still is a sell. Charts will say okay. If anything needs to be done, you have to go and sell it. So United Phosphorous has that kind of a chart. There is nothing to suggest buying. But it’s fallen from Rs 160-100, so in reality I wouldn’t actually go and short it at this lower level. I would wait for a relief rally, wait for something else, but the trade here is to go and sell at some point
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