Chambal Fert - Ammonia Play
Among the only domestic sellers of surplus ammonia in India they could benefit from the higher prices prevailing in the market.
Long at current market price..with doubling allocation above 370 once it takes out the resistance which will show fro 365/370.
It has already broken above the 200EMA + AVWAP for this entire downmove so things could look very bright above 370.
Notes: US ammonia prices shot up 24% in the past week.
50%++ of all european ammonia production capacities have been taken offline citing super high natural gas prices
Russian exports to a large part of the world have been curbed by sanctions
Ukraine which used to produce a lot of ammonia and gas based fertilizers (nitrogenous) are offline because of the war.
Long at current market price..with doubling allocation above 370 once it takes out the resistance which will show fro 365/370.
It has already broken above the 200EMA + AVWAP for this entire downmove so things could look very bright above 370.
Notes: US ammonia prices shot up 24% in the past week.
50%++ of all european ammonia production capacities have been taken offline citing super high natural gas prices
Russian exports to a large part of the world have been curbed by sanctions
Ukraine which used to produce a lot of ammonia and gas based fertilizers (nitrogenous) are offline because of the war.
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