Stock of the Day – SRF

A one time speculators delight and valued based on its Carbon Credits, SRF chart shows an interesting picture. In 2006, well before many of the stocks had even started their bull run, this stock topped out. This high was broken in 2010 but the market reaction took a pretty strong toll on the stock price as it once again plummeted lower.

Thanks to the strong move we saw today (stock was frozen at the max 20% limit), the stock seems to once again showing great promise. Whether it will be able to test the 2011 high is though another question though I would say, probability seems to be in its favor than against it.

Image

Advertisements

About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
This entry was posted in Uncategorized and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s