A bullish engulfing pattern in SRF

SRF is in a steady uptrend with price taking support at rising trendline and a horizontal support zone. The appearance of a bullish engulfing pattern at the support zone offers a good trade.

SRF is in a steady uptrend as we see a pattern of higher highs and higher lows. Price is currently taking support at rising trendline and a horizontal support zone of Rs 4350-4300. Note the support offered by rising moving average. The price action is clearly bullish. The appearance of a bullish engulfing pattern right in the support zone means that the buyers are active in this counter. Buy around Rs 4450-4440 for a rally to Rs 4530 and above that to Rs 4610. Keep a stop below Rs 4350. Hold this trade for 3-5 days.

Disclaimer: Investment in securities markets are subject to Market Risk. Consult your financial advisor before any investments.

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Futures Trade | A bullish breakout of a flag pattern in HDFC

HDFC is moving in an uptrend with a minor corrective decline. The range is classified as a flag and a breakout of falling minor trendline confirms a possible upside. HDFC is moving in an uptrend with a minor corrective decline from Nov 20 highs. The decline is on lower, contracting volumes and suggests a correction within an ongoing trend. The range-bound action can also be classified as a flag as it is on coming off a sharp rally. A breakout of falling minor trendline confirms a possible upside. Buy around Rs 2300-2310. Keep a stop below Rs 2250 and hold for a target of Rs 2400 and above that to Rs 2450.

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