Jai Bala of cashthechaos.com told CNBC-TV18, "If you look at Chambal Fertilisers from a long-term perspective it has been one way from the 2011 highs. However, the last leg has been on falling momentum. There is an indication that it is going to see a reflex rally from the recent lows."
He further added, "You might be careful here that the larger trend is down, but we are trying to play it for corrective up rise. There is a sizeable rally here so we place a stop loss below Rs 40 and try to go long for a target of Rs 56."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
