CHAMBLFERT trade ideas
CHAMBAL DESCENDING TRIANGLEChambal fertilizer is forming both ascending triangle patter and a flag pattern .
the ATR is above both 25 and 30.
The stock can be traded after it cross - Rs.319 or Rs.321
after successful resistance breakout at - 313
Stop loss can be kept at both - 300 and 290
Kindly do your own analysis before taking a trade
CHAMBLFERT BO Possible SoonThe 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 bullish in this case.
P.S: This is my first idea, comments are welcome.
Chambalfert: Flag pattern breakoutbuy above 317 in intraday and Positional
for positional buy in staggered manner till 300 and keep sl below 288 for swing.
target 370-380 as per pattern.
For Intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.