We could see breakdown to trendline, if the price fails to bounce back, we could see 4345, 4285 and 4230.
Conservative entry should be below 4390.
Regards
SRF has given breakout from it's previous major resistance. The stock has good momentum in it.
Currently the chart has entered uncharted territory. One can buy the stock at current levels
and keep Stop loss at 3934 .
**ideas are my own ** Please invest as per your risk appetite **
SRF took bounce from support and broke its trendline in PDS, currently trading above 4260 (Major resistance), looking good to buy above 4380 if sustained.
SRF(H):- SRF follow upward channel best buy level 4080 for target 4400++ sl 4000 , RSI move up wait for breakout.
#Disclaimer:-I just shared view for only educational purpose.
Basically We should not draw more than 3-4 trendlines
this will only increase confusion and decrease your decision making skill
The trend is up- buy on dips type stock
Trendline resistance
SRF gave breakout on 18Aug and next day formed a doji. But,it succeded to hold the level of (4270-4260). Looking still positive, good buy above 4330 for upper targets
SRF is currently trading at its resistance. If you notice the pattern of SRF, it gives breakout and goes sideways for several days, likewise if happens same this time, it should go sideways before giving a breakout. Momentum is strong.
