Stock is trading in the downward sloping channel and breached the support level of 2350. Stock is likely to continue its prior trend towards 2200 , hence, on any recovery stock should be short sell keeping SL of 2400 and look for the target zone of 2200 and 2100 in the coming weeks.
SRF Cmp 2339 dated 17-11-2022
1. Trendline breakdown @ 2330
Sell below 2330 for target 2300-2275-2240 SL 2365
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades...
Focus on SRF as it broke out the rounding bottom neckline comfortably with huge volume.
Wait for retracement to take support on neckline and go long
Or go long immediate if it continues to rally without retracement
Happy trading
Although I don't post charts middle of the week but found this interesting chart of SRF. On weekly timeframe it has made W pattern which is my favourite setup, I have kept alert on 30 min Timeframe for candle close above 2600. Above 2600 my targets are 2632, 2655, 2680. I would like to offload lots on mentioned price levels and bringing my SL at cost once 1 lot is...
SRF stock was trading in bullish flag pattern for last few days on 1 hour timeframe. This stock has given a breakout today its breakout level is 2520+ and its long target may be above 2655+.
