Buzzing stocks- SRF Limited stock bouncing back from oversold levels.

SRF Limited stock technical outlook

SRF Limited stock technical outlook

SRF share is trading at 1443 with almost 2% gain. SRF stock is top gainer in F&O segment in very bearish market.

Stock is in absolute downtrend and hit all downside targets of 1730-1635-1515 and 1420 after weak opening below 1850 support. Stock is deeply oversold and buy for value long term investors.

 

Stock future traders can above 1420 keep buy on dips view but risk remain as market is very bearish and volatile. On upside 1515 and 1635 are positional targets for stock future. Option traders can buy SRF 1450 call options of dec expiry on decline with stop loss for big gain in dec series. Dec option hit low near 88 while high was near 89 rupee and trading at lows.

 

SRF stock achieved its medium term target of 1550 and 1825 rupee after breakout above 1200 rupee. Above 1200, long term trend and outlook will remain bullish and buy on dips. But current strong corrective move suggesting stock might test 1200 on downside in medium to longer terms.

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