SRF trade ideas
SRFSRF Ltd (Nse) has an operating revenue of Rs. 13,628.98 Cr. on a trailing 12-month basis.
An annual revenue growth of 48% is outstanding, Pre-tax margin of 21% is great, ROE of 22% is exceptional.
The company has a reasonable debt to equity of 20%, which signals a healthy balance sheet.
Rest Notes in chart
SRF - a long tradeRSI divergence is clearly visible on this chart, breakout above 2230 generated the buy signal but I missed it. Today I bought this in anticipation of breakout from falling trend line. Safe traders can buy this on a successful close above this trend line.
Stop loss for this trade is daily closing below 2135. First target will be 2460 where I will revisit chart structure.