Below is the chart of chambal fertiliser and it scares one on first look to have so many negative patterns developing.
I do not know about any news or policy announcement by the government but charts are weak
I do not know about any news or policy announcement by the government but charts are weak
and it is likely to slide towards 60-55 levels in coming 1-2 months.
Maybe the deficit in monsoon is making these negative development on charts.
Positional traders sell chambal fertiliser @68-70 with SL 75 target 60-55 in 1-2 months.
Long term investors are advised to sell calls of higher strikes prices or buy puts of lower strike prices to hedge their investment if they do not wish to sell.
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