SRF | 60% returns | 3 Year Breakout
SRF
Monthly time frame
Stock has been moving along the upward white dotted parallel channel since 2014
Stock riding above 20-, 50- & 200-month moving averages
Stock is consolidating along 20-month moving average for 2 years
RSI > 55, indicating build-up of bullish momentum
MACD crossover approaching and is above the 0 line, indicating bullish momentum
Weekly time frame
Stock has been consolidating within the dotted yellow parallel channel for last 3 years
Stock is trading near the yellow resistance trend line & near the white trend line of the upward channel indicating a potential for double trendline breakout
Stock riding above 20-, 50- & 200-week moving averages
Stock has recently tested 200 WMA and bounced back
RSI > 60, indicating bullish momentum
MACD extending the crossover & above the 0 line, indicating bullish momentum
Daily time frame
Stock seems to be making ascending triangle formation, with range compression
Stock riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD is above the 0 line, indicating solid momentum
Conclusion
Entry: 2,650
Stop Loss: 2,400
Target 1: 3,050
Target 2: 3,650
Target 3: 4,250
Fundamentals
ROCE = 13% {Ideal > 15}
ROE = 12% {Ideal > 15}
Int Coverage = 5.6 {Ideal > 2}
Debt to equity = 0.44 {Ideal value < 1}
CF Operations / EBIT = 1.11 (Ideal > 1)
Promoter stake has remained consistent over the years > 50%
DII participation has doubled in the last 2 years
Monthly time frame
Stock has been moving along the upward white dotted parallel channel since 2014
Stock riding above 20-, 50- & 200-month moving averages
Stock is consolidating along 20-month moving average for 2 years
RSI > 55, indicating build-up of bullish momentum
MACD crossover approaching and is above the 0 line, indicating bullish momentum
Weekly time frame
Stock has been consolidating within the dotted yellow parallel channel for last 3 years
Stock is trading near the yellow resistance trend line & near the white trend line of the upward channel indicating a potential for double trendline breakout
Stock riding above 20-, 50- & 200-week moving averages
Stock has recently tested 200 WMA and bounced back
RSI > 60, indicating bullish momentum
MACD extending the crossover & above the 0 line, indicating bullish momentum
Daily time frame
Stock seems to be making ascending triangle formation, with range compression
Stock riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD is above the 0 line, indicating solid momentum
Conclusion
Entry: 2,650
Stop Loss: 2,400
Target 1: 3,050
Target 2: 3,650
Target 3: 4,250
Fundamentals
ROCE = 13% {Ideal > 15}
ROE = 12% {Ideal > 15}
Int Coverage = 5.6 {Ideal > 2}
Debt to equity = 0.44 {Ideal value < 1}
CF Operations / EBIT = 1.11 (Ideal > 1)
Promoter stake has remained consistent over the years > 50%
DII participation has doubled in the last 2 years
Trade closed: stop reached
Weekly candle has closed below 2400. Seems the stock is still in the consolidation zone. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.