The Morocco international was free on goal but was booked by referee Martin Atkinson when he went to ground as he looked to round Saints goalkeeper Artur Boruc.
It was unclear whether Chamakh was clipped with Holloway not convinced his frontman took the right decision.
"When I was stood on the line I thought the referee had got it wrong," the Palace manager said.
"Obviously watching it now he didn't. He [Chamakh] went down far too easily for my liking. I can't understand why he didn't chip it or shoot.
"He felt he could take it past the goalie and he felt there was some contact on him but as an away team you are never going to get that are you. He had a great chance to score but he probably didn't make the right choice."
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball