Are chemical & fertiliser shares ready for fresh rally? Key levels here

Chemical & fertiliser stocks rallied up to 30 per cent in June, thereafter, most of them corrected on account of profit-taking. Will the rally resume in July? Here's what the technical charts suggest.

Shares of chemical and fertiliser companies such as GNFC, Chambal Fertiliser GNFC, Chambal Fertilisers and Coromandel have consolidated post the sharp rally in June.

Will the consolidation result into a price correction or will these stocks breakout for a fresh rally? 

Here are five chemical and fertiliser related shares, which also trade in the derivatives segment. Here's what the futures & options (F&) data and technical charts suggests for these stocks.

Chambal Fertilisers

Last close: Rs 507

Downside Risk: 9.3%

Support: Rs 495; Rs 460

Resistance: Rs 530; Rs 560

Chambal Fertilisers stock rallied over 30 per cent in June. The