This analysis outlines potential future price movements for Chambal Fertilisers and Chemicals Ltd., These price points are considered key technical levels for potential entry and exit points for investors.
Bullish Outlook (If prices trend upward):
Initial Bullish Signal: A new upward trend is indicated if the stock price moves above ₹594.
Initial Targets: Following a breakout above ₹594, the first key price targets are identified as ₹661 and then ₹750.
Mid-Term Targets: If the stock continues its upward momentum, the next targets are projected to be in the range of ₹809 to ₹884, followed by ₹958, ₹1032, and ₹1058.
Long-Term Targets: For a sustained, long-term bullish trend, the analysis suggests further targets at ₹1285, ₹1671, and ₹1975.
Final Projected Target: The ultimate long-term target mentioned in this analysis is ₹2362, with a final stop at ₹2365.
Bearish Outlook (If prices trend downward):
Bearish Signal: A bearish trend is indicated if the stock price consistently closes below the ₹275 level for 2 to 3 consecutive days.
Key Support Level: In the event of a downturn, a strong support level is identified at ₹253.
Stop-Loss and Long-Term Warning: A stop-loss is recommended at ₹230. A day closing consistently below this level for 2 to 3 days would signal a more significant and long-term bearish trend for investors.
Important Note: It's crucial to remember that these are technical analysis projections based on specific price levels and do not account for fundamental changes in the company, economic conditions, or overall market sentiment. This information should be used as a part of a broader investment strategy, and professional financial advice should be sought before making any investment decisions.
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