CHAMBEL FERTILIZER BULLISH TGT 400-430-472 06-04-2024
Chambal Fertilisers and Chemicals Ltd. is an interesting chart with following
Fundamentals
1. Company has reduced debt.
2. Company has a good return on equity (ROE) track record: 3 Years ROE 23.5%
3. Company has been maintaining a healthy dividend payout of 23.0%
4/ Debtor days have improved from 35.2 to 23.1 days.
5/ Company's working capital requirements have reduced from 50.6 days to 27.8 days
Technical points :
1. RSI rising and Above 60 on all time frames i.e. D/W/M
2. ABCD Pattern under formation on Weekly Chart
3. Super Trend Turned Bullish on daily chart
4. Can be a good Risk Reward with buy on dips and dips only as Major Support is near 334- 350 zone and resistance near 400-430 and 472 levels
5. Big Bullish Marubozu candle on weekly cart
6. Price walking on upper Bollinger band on daily chart and Narrowing Bollinger Bands on Daily chart
Lets see How it evolves
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Fundamentals
1. Company has reduced debt.
2. Company has a good return on equity (ROE) track record: 3 Years ROE 23.5%
3. Company has been maintaining a healthy dividend payout of 23.0%
4/ Debtor days have improved from 35.2 to 23.1 days.
5/ Company's working capital requirements have reduced from 50.6 days to 27.8 days
Technical points :
1. RSI rising and Above 60 on all time frames i.e. D/W/M
2. ABCD Pattern under formation on Weekly Chart
3. Super Trend Turned Bullish on daily chart
4. Can be a good Risk Reward with buy on dips and dips only as Major Support is near 334- 350 zone and resistance near 400-430 and 472 levels
5. Big Bullish Marubozu candle on weekly cart
6. Price walking on upper Bollinger band on daily chart and Narrowing Bollinger Bands on Daily chart
Lets see How it evolves
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.