SRF has been one of the best multibagger stock which is on NON Stop Rally. Finding the correct Entry point is difficult as there is always risk of downside. Hence this invesment idea is only for Risky people and Reward will also be equally high. Buy around 6000-6200 levels.
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 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.
I have market the levels in the chart itself. Please refer and comment if you have any doubts !
Selling at CMP
Target : 3725
Risk : 3932
Risk : Reward is 2.57
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Technical analysis of price information suggests that a rounding top may form at the end of an extended upward trend and that this price pattern may indicate a reversal in the long-term price movement.
The main point of recognizing the pattern is to anticipate a significant change in trend from upward trending prices to downward trending prices.
Recognizing this...
