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
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.
