The ban on Russian and Belarusian commodities is producing shortages of commodities in world market. Belarus caters most of the fertilizer requirement of world, and this is in shortage now. Food shortage is expected in coming years. Place yourself in a scrip which is better placed in Indian context. Chambal Fertilisers is the one which is going to benefit the most. If you are holding cheers, and if you want more, you can buy it at CMP.
Technical Chart is self sufficient to explain itself. On a daily chart Bullish Engulfing pattern is observed and on a weekly chart breakout of W pattern is observed. First target of 650 will be achieved very quickly as the rocket is about to take off. It has potential to reach target of 750-800 range in a very short term. Wouldn't be surprised if it starts hitting upper circuit from tomorrow on-wards.
Disclaimer: For educational purpose.
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Exited trade with 6% gain. The structure in this scrip has weakened after today's broader market fall. Will wait for tomorrow's closing, for any long in this scrip. Daily structure is weak now, now lets see what happens on weekly chart.