-Accumulation Phase: SRF Shares Gather Momentum in 30-Month Range of 2000-2500.
Disclaimer: Information provided for educational purposes only. Trading involves risk. Conduct research and consult financial advisor before making investment decisions.
SRF looks very bullish. I feel it will touch 2480, 2500,2550,2600 in short term in 4-6 weeks.
Also my analysis about SRF is 90% correct so please study and add your analysis as well.
SRF-
Price is trading in the range from Sep'21.
Price movement is narrowed now.
Hopefully this time, price take one side.
Reason to go long:
Agrochemicals is in downwards trend. But market appreciates price before the sector revival, forward looking.
My plan:
Will do SIP.
This time I will wait for few months to year.
Exit if price goes below 2100.
Its near its 52 Week low.
Dividend giving stock.
Good ROCE ROE.
Promoter Holding is good & No promoter Pledged.
Debt is less than reserves.
Demand Zones are marked as Green shaded horizontal areas.
Resistances are marked as red horizontal lines.
Stoploss is marked as orange horizontal line.
Skyblue arrows Show bounce back points on Demand Zone.
200 EMA is shown...
With the company reporting extremely poor exports the stock could fall further.
Short below 2288 with a SL above 2350.
The stock would break down and could reach 2075.
A better time to take this trade is when the markets are in the red.
SRF has formed triangle pattern and the breakout level to confirm upside momentum is 2400. Once we see a daily candle close above 2400 levels, it is good for further upside momentum.
Target: 3100+
SL: Daily candle close below 2310
