The heavy-weight Reliance Industries has broken critical support of Rs 2,300, raising concerns about the future drawdown. In addition, the formation reveals a "Descending Triangle" violation
The overall trend in the fertiliser space remains bullish, with stocks like Chambal Fertilizers & Chemicals, Aries Agro and National Fertilizers indicating strong upside ahead
Shares of RCF, NFL, GSFC, GNFC, Chambal Fertilisers, and Zuari Agro Chemicals were up between 5 per cent and 12 per cent
Barring, Chambal Fertilizers & Chemicals, which has shed 19 per cent on YTD basis, most of the other fertilizers stock have logged gains so far in 2022. Deepak Fertilisers has zoomed 148 per cent.