NFL trade ideas
nflThe Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved ₹51,875 crore subsidy for phosphatic & potassic fertilisers for the rabi season.
In view of steep increase in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to absorb the increased prices by increasing subsidy on P&K fertilizers including DAP.
Triangle patternStock is forming on of the triangle pattern in monthly charts.
possible potential up move if break out happens successfully.This season,monsoons are going to be good in in india.Agriculture sector would get benefit from this and it will boost demand to fertilizer companys as well.we can go long on this stock for medium term with calculted risk.
Breakout from Wedge patternNFL and Chambal fertilizers had a good run in last trading session...NFL has broken out of wedge pattern in monthly TF, and if it opens above 73.5 ( last session's high) it could scale 84 and the next target of 95..Keep watching..Importantly the VOLUMES have been pretty good in last couple of months as shown in chart. Breakout with good volumes becomes even more solid for trading..this is an idea, not advice.