Stocks to buy: Chambal Fertilisers, RCF among three fertiliser stock picks with up to 113% upside potential

  • Stocks to buy: Nuvama Institutional Equities has listed out three fertilizer stocks to buy, expecting an upside potential of up to 113%. These technical stock picks in the fertiliser sector include Chambal Fertilisers & Chemicals, National Fertilisers and Rashtriya Chemicals & Fertilizers (RCF).

Ankit Gohel
Published19 Jun 2024, 09:53 AM IST
Stocks to buy: Fertilizer sector has shown a mixed performance in recent years and is currently showing the first signs of leadership in the high-beta sector.
Stocks to buy: Fertilizer sector has shown a mixed performance in recent years and is currently showing the first signs of leadership in the high-beta sector.(Image: Pixabay)

The fertilizer sector is preparing for a big rally as there is bullish structural confirmation in the long-term charts of select fertilizer stocks that are catching strong attention. The fertilizer sector has shown a mixed performance in recent years and is currently showing the first signs of leadership in the high-beta sector. 

The basket stocks have formed higher tops and bottoms on the medium-term charts that hint at a probable trend change and resumption of the uptrend. The overall theme looks positive and suggests that a major uptrend will unfold in the coming years and a new sector is likely to emerge from the PSE space, said Manav Chopra, CMT, Nuvama Institutional Equities.

Chopra has listed out three fertilizer stocks to buy, expecting an upside potential of up to 113%. These stocks to buy include Chambal Fertilisers & Chemicals, National Fertilisers and Rashtriya Chemicals & Fertilizers (RCF).

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 19

All these stocks rallied up to 11% on Tuesday, hitting their respective 52-week highs. RCF share price jumped over 11%, while National Fertilisers shares rallied over 9% and Chambal Fertilisers shares surged more than 8%.

Here are the technical stocks picks in the fertiliser sector:

Chambal Fertilisers & Chemicals | Buy | TP: 765

In the past, Chambal Fertilizer has doubled within 16-18 months of breaking above the 52-week highs. The current setup points to a strong uptrend with the formation of a reversal candle and momentum indicators confirming a new high for the stock, Nuvama Equities said.

The brokerage has a ‘Buy’ call on Chambal Fertilisers shares and a first target price of 580 and second target price of 765, implying an upside potential of 75% from Tuesday’s closing price.

Also Read: Stocks to buy: KRBL and Ratnaveer Precision Engineering are two technical stock picks by analysts

National Fertilizers | Buy | TP: 255

National Fertilizers stock has been in the consolidation phase for the past few weeks as it held support clusters of 110 - 100 zone above the 50 SMA and has absorbed the selling pressure in weak markets. The Multi-frame analysis indicates resumption of the uptrend and hints at a new swing high in the making, said the brokerage firm.

It has a ‘Buy’ rating on National Fertilizers shares with a first target at 185 and second at 255 per share, expecting an upside of 110%.

Also Read: Stocks to buy: 8 stocks that may rise 4-16% in the next 3-4 weeks, say analysts

RCF | Buy | TP: 370

RCF share price breakout from the 16-year resistance zone pattern has formed a higher base formation around the 140-130 levels zone that reaffirms the change in polarity i.e. previous resistance now acting as a support zone. There is the emergence of multiple bullish candlesticks on the charts that further validate the presence of bulls.

RCF stock has held above the 150-140 long term support levels and indicates demand at the lower levels. MACD Bullish crossover formation above the zero line along with the horizontal trendline breakout in price reaffirms the bullish setup in place. The volume spikes indicate a strong undertone and a sustained move above 180 levels will witness fresh momentum, according to Nuvama Equities.

It has a ‘Buy’ rating on RCF shares with a target price of 275 and second target price of 370, an upside potential of 113%.

Catch Stock Market Live Updates here

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess

News in Numbers

Numbers that help you understand news better
$1 B

2 Hrs

19.50 L

250 MTPA

₹18.05 Cr

₹100/kg

First Published:19 Jun 2024, 09:53 AM IST
HomeMarketsStock MarketsStocks to buy: Chambal Fertilisers, RCF among three fertiliser stock picks with up to 113% upside potential

Most Active Stocks

Bharat Electronics

312.60
03:59 PM | 22 JUL 2024
6.3 (2.06%)

Zee Entertainment Enterprises

134.60
03:59 PM | 22 JUL 2024
-2.95 (-2.14%)

Tata Steel

160.35
03:57 PM | 22 JUL 2024
2.6 (1.65%)

Wipro

505.75
03:59 PM | 22 JUL 2024
-51.5 (-9.24%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Rashtriya Chemicals & Fertil

235.05
03:53 PM | 22 JUL 2024
21.1 (9.86%)

NBCC India

184.85
03:52 PM | 22 JUL 2024
13.05 (7.6%)

Indian Hotels Company

620.20
03:54 PM | 22 JUL 2024
42.95 (7.44%)

Chalet Hotels

820.00
03:29 PM | 22 JUL 2024
55.9 (7.32%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,510.00293.00
    Chennai
    75,657.000.00
    Delhi
    75,217.00732.00
    Kolkata
    75,144.00659.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.98/L0.23
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanBudget