The fertiliser stock hit a fresh 52-week high of Rs 402 on January 4, but failed to hold on to the momentum. It found support above the 20-WEMA once in March and then again in April. On the daily chart, it bounced back after retesting the 50-DMA earlier this week, which suggests that bulls are here to stay.
The fertiliser stock hit a 52-week high of Rs 402 on January 4 but failed to maintain the momentum. In terms of price action, the stock is now trading above short- and long-term moving averages of 5,10,30,50,100 and 200-DMA on the daily charts, which is a positive sign for the bulls.