SKF India closed at an all time weekly high of 2549.05 this Friday. It has also managed to break out of a 4 year old rising channel (clearly marked on the chart). Both events represent strong upside momentum and make SKF India a great medium to long term buy at this price
Target : Fibonacci projection gives us targets of 2770 (1.618) and 3780 (2.618) and...
It has formed a CUP on daily timeframe without a handle.
Good accumulation at lower levels.
Depth of cup is less than 35% - indicates strength
Expecting it to move sideways for a few day
Might form a handle
and thereafter a possibility of a breakout
Good morning Friends , today we are going to talk about SKF INDIA stock looking good till it is above2300 level can go for long and hopeful to see 2370 tomorrow itself. for detail please watch video.
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