khushboo15

If 239 level breaks, it could move up to 284 levels(previous high), thus forming b wave of abc correction. And if 284 level works as resistance then it would be a flat correction and if it could break 284 level with higher volumes, it will be irregular correction.

For immediate trend, if 239 could be broken with higher volume then it could move up to 284 levels, thus completing b wave of correction. If it could break 284 levels(previous high) then the correction will be irregular. If previous high could not be broken down, then 284 level will serve as resistance and it will be a flat correction.

Chambal Fertilzers is in accumulation phase, if it crosses the above resistance line i.e. 209 then targets would be 247 or 266. And if it breaks lower support line then target would be around 173.