Trade Spotlight | What#39;s your strategy for RCF, Bharat Electronics, Chambal Fertilisers on Budget day?

India

Chambal Fertilisers and Chemicals after the short correction has bottomed out near Rs 287 zone and indicated a decent pullback with a big bullish candle pattern on the daily chart to improve the bias. It is moving past the significant 50EMA level of Rs 306 zone anticipating for further upward move in the coming sessions.

Sunil Shankar Matkar

February 01, 2023 / 05:55 AM IST

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}); }); function redirectToTradeOpenDematAccountOnline(){ if (stock_isinid && stock_tradeType) { window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’); } } It was yet another session of volatility and rangebound movement in the market on January 31, as participants cautiously awaited the Union Budget.The recovery in late trade helped the benchmark indices close slightly higher, but the performance presented by broader markets was quite strong with the Nifty Midcap 100 and Smallcap 100 indices rising 1.6 percent and 2.9 percent on strong breadth.About three shares advanced for every falling share on the NSE.The BSE Sensex gained 50 points to 59,550, while the Nifty50 advanced 13 points to 17,662 and formed bearish candle on the daily charts with long lower shadow indicating support-based buying.