CHAMBAL Fertiliser on a daily time frame CUP chart pattern Monthly and Weekly RSI above 60 levels Daily, 75 mins and 15 mins RSI declining It should retrace the neckline levels to retest the levels. If you calculate the retracement, it should retrace between 23.6 to 38.2%. You can notice unusual volume on a break-out candle.
An analysis of Chambal Fertilizers using Elliott Waves, we can observe an interesting progression in the stock's price movements on a weekly cycle. The chart has completed the initial waves I through IV, and it is currently unfolding wave V, signaling a strong potential for a bullish trend ahead. Let's delve deeper into the details of this wave analysis. Weekly...
It was in deep consolidation around 200 Weekly EMA . It is picking up good volumes around that level, if breakout one then above mentioned targets can be achieved easily
Chambal Fertiliser has given a breakout from the 2 year long consolidating range with a supporting volume. Targeting 398/445/475 Re-Test zone 350-340
As per analysis, best entry level to take positional trade on NSE:CHAMBLFERT is 311. This could be very best risk and reward trade. My target will be 321 & 353. Will exit if price trade below 297. Note: This is my personal analysis, only for learning. Thanks.