Chambal Fertilisers and Chemicals Ltd Stock Forecast
Green day on Friday for Chambal Fertilisers and Chemicals Ltd stock after gaining 0.397%
(Updated on May 17, 2024)
The Chambal Fertilisers and Chemicals Ltd stock price gained 0.397% on the last trading day (Friday, 17th May 2024), rising from ₹403.25 to ₹404.85. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.53% from a day low at ₹402.60 to a day high of ₹408.75. The price has risen in 6 of the last 10 days but is still down by -0.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 93 thousand shares were bought and sold for approximately ₹37.63 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.65% during the next 3 months and, with a 90% probability hold a price between ₹433.13 and ₹509.16 at the end of this 3-month period.
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CHAMBLFERT.BO Signals & Forecast
The Chambal Fertilisers and Chemicals Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹397.08 and ₹384.23. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chambal Fertilisers and Chemicals Ltd stock
Chambal Fertilisers and Chemicals Ltd finds support from accumulated volume at ₹402.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹6.15 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: ₹385.03 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CHAMBLFERT.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Chambal Fertilisers and Chemicals Limited to open at ₹405.40, and during the day (based on 14 day Average True Range), to move between ₹391.58 and ₹418.12, which gives a possible trading interval of +/-₹13.27 (+/-3.28%) up or down from last closing price. If Chambal Fertilisers and Chemicals Limited takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹404.95 (0.02%) than the support at ₹402.05 (0.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Chambal Fertilisers and Chemicals Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chambal Fertilisers and Chemicals Ltd stock to perform well in the short-term.
Current score: 2.745 Buy Candidate Unchanged
Predicted Opening Price for Chambal Fertilisers and Chemicals Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹405.40 ( 0.136%) | ₹404.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHAMBLFERT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 411.55 | 1.65 % | |
| R2 | 409.20 | 1.07 % | ||
| R1 | 407.75 | 0.716 % | ||
| Current price: | 404.85 | |||
| Support | S1 | 403.05 | -0.444 % | |
| S2 | 401.60 | -0.80 % | ||
| S3 | 399.25 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 422.80 | 4.43 % | |
| R2 | 408.80 | 0.98 % | ||
| R1 | 404.95 | 0.0247 % | ||
| Current price | 404.85 | |||
| Support | S1 | 402.05 | -0.692% | |
| S2 | 372.60 | -7.97% | ||
| S3 | 353.25 | -12.75% |
CHAMBLFERT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 15, 2023 | Nov 15, 2023 | Dec 02, 2023 | ₹4.50 | 1.41% |
| 2 | Aug 21, 2023 | Aug 21, 2023 | Oct 12, 2023 | ₹3.00 | 1.03% |
| 3 | Feb 16, 2023 | Feb 16, 2023 | Mar 09, 2023 | ₹4.50 | 1.55% |
| 4 | Aug 24, 2017 | Aug 24, 2017 | Oct 15, 2017 | ₹1.90 | 1.29% |
| 5 | Sep 01, 2016 | Sep 01, 2016 | Sep 01, 2016 | ₹1.90 | 2.94% |
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