Chambal Fertilizer : Breaking of a consolidation zone
Chambal Fertilizers : Consolidating from June 2024 till a few days back between a range of 440 - 550
Finally it broke out of the zone and made a new ATH of 588
Currently pulling back in a strong demand zone between 525 - 545
If stops and tries to reacts (in lower time frame), then it will be an excellent opportunity to buy, as stock will make new ATHs in the coming month
Risk reward seems excellent with a proper sl below 515
Multi time frame compulsion is a must
DYOR before entering & be cautious as the trade is against the major indices broader market trend
Finally it broke out of the zone and made a new ATH of 588
Currently pulling back in a strong demand zone between 525 - 545
If stops and tries to reacts (in lower time frame), then it will be an excellent opportunity to buy, as stock will make new ATHs in the coming month
Risk reward seems excellent with a proper sl below 515
Multi time frame compulsion is a must
DYOR before entering & be cautious as the trade is against the major indices broader market trend
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.