The timing chain has a tensioner so it should not be loose. I am not sure if the in and out end play can be checked with the Timing Chain Tensioner tensioning the chain.

I am also not sure if you can feel the end play. The manual calls for the use of a dial indicator to check the end play.

There is supposed to be some end play to begin with.

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84 300D, 82 Volvo 244Gl Diesel