Chambal Fertiliser a 6 month consolidation will it breakout ?Chambal Fertilisers and Chemicals Ltd. is another interesting chart to keep on radar with following
1. RSI on all time frames (DWM) is at or above 60
2. Narrowing Bollinger Bands on daily chart with price walking on upper band
3. ABCD pattern under formation on weekly chart with fib-extension targets of 639-694
4. 6 month long consolidation on daily chart within channel of 440-530 zone
5. Major Supports are as under:
20 SMA (weekly) 491
20 SMA (Daily) 478
50 EMA (Daily) 483
With cluster of supports in area of 478-492 lets see if it breaks out of its consolidation or continues its consolidation
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION 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 take some position with my own Risk Reward matrix.