Chambal Fertilizers: SEBI RA Prameela Balakkala Sees Bullish Breakout Above ₹571

Chambal Fertilisers is showing signs of a bullish breakout. If momentum sustains, an analyst believes it can test ₹600 or higher.

Fertilizer stocks are on a tear in Tuesday’s trading session. FACT surged 8%, National Fertiliser, RCF, and Deepak Fertilisers rose 7%. 

In line with its peers, Chambal Fertilizers gained 3% and has gained analyst attention for its bullish chart setup. 

SEBI-registered analyst Prameela Balakkala notes that Chambal Fertilizers is showing strong price action above ₹571, sustaining crucial levels with bullish intent. 

She adds that the 200-day Moving Average has acted as a strong dynamic support, aligning with the previous demand zone at ₹540–₹555. This alignment confirms solid base formation. 

Given this technical setup, Balakkala believes that a short-term target at ₹600 or higher looks achievable, provided the stock continues to hold above ₹570 with strength. 

From a technical point of view, she emphasizes the importance of Chambal Fertilizers’ ability to hold above the key level of ₹571. Recent price candles have indicated rising demand and renewed investor interest. 

Balakkala adds that the Relative Strength Index (RSI) needs to trend upward with increasing volume for confirmation of momentum. 

She advises traders to look for sustained closing above ₹571–₹575 for fresh upside signals. 

Additionally, they should keep a close watch on the combination of volumes and RSI to validate any breakout potential.

Chambal Fertilizer shares have gained 15% year-to-date (YTD).

With the monsoon season ahead of us, fertilizer stocks pose a potential sector to watch for investments. 

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