Bearish Rising Wedge on SRF LtdThe 1-hour chart for SRF Ltd (NSE) indicates a bearish rising wedge pattern. The price is moving within an upward sloping channel, suggesting a potential reversal to the downside.
Current Price: 2,351.45 INR
Resistance Level: 2,419.30 INR
Support Level: 2,292.30 INR
The pattern suggests a weakening bullish momentum. A break below the support level of 2,292.30 INR could trigger a bearish move.
SRF
SRF can Surf upwards after consolidation. SRF Ltd. engages in the manufacturing of chemical-based industrial intermediates. It operates through the following segments: Technical Textiles Business, Chemicals Business, Packaging Film Business etc. The Chemicals Business segment comprises of refrigerant gases, industrial chemicals, specialty chemicals, fluoro chemicals & allied products and its research and development.
SRF Ltd. CMP is 2529.15. The positive aspects of the company are Company with Low Debt, Company with Zero Promoter Pledge, MFs increased their shareholding last quarter and Book Value per share Improving for last 2 years. The Negative aspects of the company are High Valuation (P.E. = 61), De-growth in Revenue and Profit, Inefficient use of capital to generate profits and Inefficient use of shareholder funds.
Entry can be taken after closing above 2529 Targets in the stock will be 2579, 2656 and 2693. The long-term target in the stock will be 2756 and 2855. Stop loss in the stock should be maintained at Closing below 2427 or 2285 depending on your risk taking ability.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
🔥 15% - 30% Upside Potential | SRF| Rising Wedge Patter🔥 15% - 30% Upside Potential | NSE:SRF
| Rising Wedge Pattern | Midterm Investment Idea
✅ Buy Level - Rs 2560 - 2570
✅ SL - Rs 2482
✅ Target - Rs 2645/2689
✅ Rissing Wedge Pattern on 1 day time-frame
✅ Double Bottom
✅ RSI moving upwards of 60
Trade :-
✅ Buy Future Rs Rs 2560 - 2570
✅ Buy Equity
Look at the chart for more information
Do share your thoughts on the analysis. Lets decode the charts together.
SRF : For 6 -9 month swing trade SRF: Stock is now in uptrend
a triangle breakout possibility
stock broke trend line 1 as can be seen and this time it sustained above the same for a decent three-week interval
expect this momentum to continue for targets 2850-2880 and 3200 on the upside in next two to three quarters with accumulation zone of 2200-2500
with a stop below 2120 level
SRF : strong long candidatethe chemical major is trading with strength and is now near levels last visited in month of feb in year 2022 ie almost after two years its at same juncture
possibility of breakout on higher side is high and with that into consideration , its a good long candidate for 3000 target zone with 2500 as stop loss
SRF BREAKOUT FROM TRIANGLE WAVE 4Hey guys here is a video idea of SRF which has just broken out of the triangle wave 4 of internal degree. Expected to retrace to the breakout level then a positive move for wave 5 internal degree.
Please do your own analysis before going into a trade. I am not a SEBI registered analyst. Any losses on the chart are sole responsibility of the viewers.
Thank you.
SRFwe are looking SRF bullish move.
Disclaimer:
Kind regards to all friends and members ,
Stock market investment is subject to 100% market risks. Our company is not a SEBI registered company. Please consult your financial advisor before investing. This is for learning and training purposes only. Market Traps administrators are not responsible for any financial gains or losses resulting from your decisions. You acknowledge that stock market investments are highly risky and that you understand the market risks involved. Hence any legal action is void.
SRF bouncing from crucial support!Chemical sector has lately showed some good reversal signs.
SRF is one stock which you can keep on your watchlist from chemical sector.
Pin bar candle in weekly TF near support might be a signal of start of uptrend in the stock.
Minimum target can be 2400. SL is below low of pin bar candle or below 2100 WCB.
IDEA IS SHARED ONLY FOR EDUCATIONAL PURPOSES