Every day our algorithms go through all listed stocks on NSE and identify 50 stocks and give them a score based on the position of the stock with respect to trend channel, volume balance indicator, nearness to support and resistance.
Today we write about Chambal Fertilizers & Chemicals Limited which has topped our list of Top 50 buy candidates that our algorithms have created.
Chambal Fertilizers & Chemicals Limited, Close: 156.15
Chambal Fertilizers & Chemicals Limited shows strong development within a rising trend channel in the medium and long-term. Rising trends indicate that the company experiences positive development and that buying interest among investors is increasing.
The stock has broken up through the resistance at rupee 153. This predicts a further rise. Next resistance levels are at 171 and 207 rupees, while there is support at 153 and 137 rupees.
Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which strengthens the trend. The RSI curve shows a rising trend, which supports a positive trend. The stock is overall assessed as technically positive for the medium term.
Investtech's outlook (one to six months): Positive
The analyses are based on closing price as per December 03, 2018. Maintaining proper stop loss is always recommended.
Disclaimer: All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.