1)Double Top Formation
2)Bearish Butterfly pattern
3)Bollinger Band resistance
As shown in chart whenever stock break 2200 level it rapidly moves down and Simple moving average acts as support.
So it can move down up to 2140/2100/2040....
SRF has been a strong stock.but might for a short term correction..faces a tough resitance
might test 20 dma.
NOte: this is for educational purpose only.
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SRF has broken the resistance around the level 1770 - 1780. We can go long above 1780 with the stoploss of 1750. Targets are 1860 and 1900. It is a long trade and we can take it for investment. Consult your financial manager before investing.