There is Doji+hammer on weekly chart, generally these type of pattern can gives good up move if all the factors of markets are neutral or positive obviously,
So i think there is two big factors for bullish trend in next season, 1st is W pattern, 2nd is just like old time support taken on this levels with Doji+hammer..
Keep eye... 👁️
Price can move...
SRF 1dtf is at good support nice place to accumulate
Stock is reacting nicely for the support
Very less stoploss and good risk reward
Be cautious trade with stop loss might breakdown also because market is at its peak
Bullish for long term with weekly strong support
Good fundamental stock
Future looks positive for chemical
Support on monthly and weekly time frame
Just bounce from the weekly support.
SRF is at its important support level, taking support for the 3rd time now, and can take a swing with an 8-9% SL % and a 30% potential upside, almost a1:3 (R: R).
SRF Cmp 2144 dated 24-7-2023
1. Chart trading at Support.
2. Today Quarterly result were not as per
expectation.
3. Breaking 2130 will give more downside.
Sell Below 2130 target 2080-2040-1980 SL 2200
It is just a view, please trade at your own risk.
SRF LTD. is looking good on Daily and Weekly chart. Currently it has made some positive price action near the demand zone and closed above the previous day. Also, it is taking day timeframe trendline which is dual confirmation.
One can initiate fresh position near 2340-2350 and SL will be 2140. First target will be 1:2 which is 2400 and second target will be 1:4...
When A weekly completely closes below 5 ema. After that when the high breaks - you enter a trade directly without any close or anything
Keeping 1:3 Target
With SL W Candle Low
the stock has started its downward movement from past few days. now the stock is trading near its important support zone marked on the chart.
More downside possible if the stock breaks down from the support and gives closing below the level on daily closing basis. Expected target can be next support zone marked in green on the chart.
Keep the stock on radar....
In 1D time frame SRF has taken good support.
Showing strength of making new highs from the lows now.
Target yours.
SL strictly candle closing below 2150.
📊 Pattern: Hut Pattern
📌 Symbol/Asset: SRF
🔍 Description: Bearish Momentum, Stock May Breakdown
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
