PL Technical Research: Buy SRF LTD - Technical Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.Ltd

BUY SRF LTD CMP: 2235 TRGT: 2550 SL: 2120 - TECHNICAL PICK - The stock has witnessed a decent correction from 2600 zone and has bottomed out at around 2100 levels near the previous low made, thereafter with a decent pullback seen has currently made a bullish positive candle on the daily chart. With the bias turning positive and also with the RSI well placed which is on the rise indicating a trend reversal to signal a buy. We anticipate further rise with much upside potential seen and we suggest to buy this stock for an upside target of 2550 keeping the stop loss near 2120 level.