SRF is travelling in a Descending channel pattern .
Now, it is at crucial point for either Breakout or Breakdown!!!
Make it to Watchlist !!
Will update the levels once it gives the movement with volume!!
Let's wait and watch how it moves!!!!
Note - Just sharing my view.....not a tip nor advice!!!!
Position ally Short SRF between 2670-2690 with SL above 2740
Target 1= 2220
Target 2 = 2100
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Stock is trading in the downward sloping channel and breached the support level of 2350. Stock is likely to continue its prior trend towards 2200 , hence, on any recovery stock should be short sell keeping SL of 2400 and look for the target zone of 2200 and 2100 in the coming weeks.
Stock Name - Srf Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 2555
#This is not Buy and Sell recommendation to any one. This is for education purpose...
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
If Breaks Then The Targets could be Taken at 1981
Time Frame :- 1 Hour
Patterns Name :- Inverse Head and \shoulder
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
Comment Below If You want to ask me questions on this on any other idea
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SRF Limited stock might get good break out and it might complete these W patterns one by one.
One can go for swing as well as positional too.
**whatever charts or levels or ideas we are sharing here or on any other platform are just for educational purpose only, not a recommendation. Please do your own analysis before taking any trade on it. We are not...