SRF sustaining above 2680 , futures 1 lot @2700Learning simple chart reading , LOOKING AT CHART and volume SRf should move towards 2733 and above.
2680 resistance is broken and consolidating above 2680. though market is falling for last two days , SRF is closing around same position.
I have 1 Lot here , looking for first tgt of 2733 if sustains.. will hold and until it retraces back to 2733, SL is is on ly 10pts , 2690 or 2685,
--> my actual trace is short selling two lots 2600PE and 2550PE.
SRF trade ideas
SRF - Long ideaBusiness line - Fluorochemicals, Specialty Chemicals, Packaging Films, Technical Textiles and Coated and Laminated Fabrics.
Chemicals Business generates about 43% of revenues.
2 components of Chemical business = Fluorochemicals & Speciality Chemicals
Packaging Films Business generates around 40% of revenues.
Technical Textiles Business generates around 14% of revenues.
Coated and Laminated Fabrics generates around 3% of revenues.
Presence in 90+ countries across the world.`
Market cap of 64,967 Cr
*** The demand for specialty chemicals is expected to rise at a 12% CAGR by FY 22
*** Fluorochemicals Market size expected to reach 70 bn by FY 24
SRF has it major revenues being generated from the above mentioned industries, which are poised for a good growth.
The stock looks to completely move out of its support area and has shown strength in buying.
Expected good returns on a long term perspective.
Immediate Target price - 2538