Carragher expects to return to full training next week and should be fit to face the Blues on November 20.
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The defender has missed the last two matches with a calf injury and is keen to get back into action to help boost Liverpool's domestic ambitions.
'It's the first time I've ever had a muscle injury in my life but I'm coming along fine,' said the stalwart defender.
'I'm working with the physios this week and if things continue to go well the plan is to get back into full training at the start of next week.
'It was always going to be tight to be fit for the Swansea game last weekend and with a two-week break after that match there was no point doing anything silly.
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'It's important to ensure I get it 100% right. Hopefully I'll be available for the Chelsea game but I'm not thinking about games at this stage.
'My first target is just getting back on the training pitch with the lads and that should happen early next week."
Despite his advancing years, the 33-year-old is confident the fitness problem is only a minor issue as he looks to add to his tally of 679 appearances for the Reds.
'It's the first time I've ever had a muscle injury in my life,' he added.
'I suppose that's not a bad record so I can't complain too much. The good thing is it wasn't a bad one and it has only kept me out for a short period.
'I was quite fortunate and it's not something that should happen again.'
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