CAMS The stock has come out of the basing formation. The patten looks like a head and shoulder in the making. A move towards 4000 levels can be expected, if the rally sustains in the broader index.
The stock is the strongest among the nifty 50 stocks. It is making newer highs; it broke the symmetrical triangle and has gone up on good volumes Long term we can expect 12000 levels short term 9200 cannot be ruled out. A buy on dip strategy needs to be followed on this. A test of the triangle can be a buying opportunity.
Nifty has been on a downtrend for a long time, but some stocks are strong as they are going against the trend. SRF is one of those stocks. It is relatively strong as Nifty is falling , the stock is building the base. Today's volumes were good. The stock needs to move above 2880-2920 range. IF that happens then 3100-3200 range awaits. I don't have any idea how...
Nifty at a major support area. But we have been near many support zone in the past. In any support make sure that reversal is the key a reversal bar at support can be great.