Chambal Fertilizer : Breaking of a consolidation zoneChambal 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
Chambalfertview
Chambal Fert Swing Long Update- Chambal is currently trading at 519
- I am soon expecting Chambal to purge 530 as well
- If you are late then it is better not to catch the breakout if your entry is not conservative
- If you try longing after taking a confirmation from the breakout a Buy Side Liquidity trap will stop you out showing a bullish fakeout
- So Avoid longing chambal when the party is over
- If you a retracement and a catch beneath the wicks entries are going to be perfect
- Manage risk properly
CHAMBAL 550 ?Hi guys
I am posting this chart again with the possible Elliot wave counts and proper harmonic patterns
Stock is consolidating from a long time - July month in descending triangle pattern. we can see price are in compression mode. we can see a good breakout in this stock unto 345 and 470
Thanks