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Ahead of Budget 2022 Chambal Fertilizer Stock Rallied 6.5%. What’s Ahead ?

To Read our Prediction on Chambal Fertilizer on October 28,2021 Click Here

Chambal Fertilisers & Chemicals Ltd

NSE :CHAMBLFERT   BSE :500085  Sector : Fertilizers

About Company: Chambal Fertilisers & Chemicals Ltd is engaged in production of Urea from its own manufacturing plants. It also markets/ deals in other fertilisers and agri-inputs. It also has a Joint Venture for manufacture of Phospohric Acid in Morocco. The company was also engaged in Software business, However, in FY21, it sold assets and transferred certain liabilities of the business to cease the operations of the software business

Daily Chart of Chambal Fertilizer:

Technical Outlook of Chambal Fertilizer:

Ahead of Budget release, stock rallied 6.5% gaining momentum and participated in the pre budget rally. Stock on Wednesday 12 Jan 2022 closed at 453.60, up by 27.70 per share. Chambal Fertilizer hits all time high of 455.40 and closed above previous high of 451

Daily chart of Chambal Fertilizer looks bullish, Volumes are on the decent side. As we have already recommended targets of 451 and today stock achieved it. CLICH HERE.

Now we extend our targets on the upside at 515- 525 before the budget announcement. Hence continue to hold the stock, book partial profits and Trail Stoploss at 419

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