Long

SWING IDEA - CHAMBAL FERTILISER

Updated

Chambal Fertilisers, a prominent player in the fertiliser industry, has recently garnered attention for its intriguing price action and technical indicators, prompting a closer examination for potential trading prospects.

Reasons are listed below :

Recent price action witnessed a breakthrough of the strong resistance zone at 350 levels, indicating a potential shift in market sentiment towards bullish momentum.
A bullish engulfing candle on the weekly timeframe signals a bullish reversal, suggesting a possible uptrend ahead.
The price aligns closely with the 0.382 Fibonacci retracement level, providing added support to the bullish outlook.
After over two years of consolidation, the stock has finally broken out of this range-bound behavior, indicating a change in trend dynamics.
Recording its highest close in eight weeks, Chambal Fertilisers trades above the 50 and 200 exponential moving averages (EMA), indicating strong bullish momentum.
Consistent higher highs in the price action suggest a sustained uptrend.
Notable upticks in trading volumes accompany recent price movements, indicating heightened investor interest and potential for significant price moves.

Target - 415 // 480 // 515
StopLoss - weekly close below 340

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@visionary.growth.insights

Note

We can add quantity as hammer candle has been formed on crucial support levels.

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Price sharply bounced back from support levels.
Trend is intact, HOLD!

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Bullish Marubozu Candle is formed.
We are up by 2.5%

Trade closed: target reached

1st target achieved : 14.2% ++

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HOLD !!

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Price action is intact, HOLD!

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made a high of 18%++

Trade closed: target reached

2nd target achieved : 50%++

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all time high weekly close

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we can expect further move

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Consolidating at very crucial zone , hold!

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Will possibly breakout soon, continuing its rally

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new all time high weekly close, we can further upmove

Visionary_Growth_Insights

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