Stock has given a breakout after consolidating in range .. The breakout has happened on hourly closing basis.
There is easy 10% upside from here at least.. go in if price sustains above resistance on DCB ..
It has given a breakout!
Good for targets of 350 in the short term and 390 for the long term.
Company has strong fundamentals and it can prove to be a good investment stock.
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
Chambal Fert has given Flag breakout on daily chart. Target should be height of flag or fibb extension 100% to 380. Entry is in entry range and move is expected in 1-3 week timeline. Volume is also supporting.
The chart forms a cup and handle pattern supported by high volumes in the counter.
The other technicals are supporting the probability:
RSI - 68 (Since it is not in the oversold territory it makes room for higher profits)
MACD is above the centre and signal line which is another bullish signal
ADX - 42 (It indicates the strong trend of the movement, which is...
Can confirm a breakout above 294 (Previous swing high and a short term resistance.
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Chambal Fertilisers is Chart of the Week this time and the stock has given a very good breakout. Keep Stop Loss at Rs.245 and go long in this counter. The whole agro industry is doing well and I expect the effects of that will be positively felt in Chambal Fertilisers as well.