SRF CMP 2917
Pattern - Expanding triangle- If u look carefully what seems like a clear breakout is actually an expanding triangle. Right on the highs the stock has formed a negative divergence in RSI on the weekly charts and is in the bear zone on the monthly charts. Since it is above the bear zone we may see many ups and downs before the final blow will set in.
Conclusion - this stock is at risk zone. Book ur profits.
Pattern - Expanding triangle- If u look carefully what seems like a clear breakout is actually an expanding triangle. Right on the highs the stock has formed a negative divergence in RSI on the weekly charts and is in the bear zone on the monthly charts. Since it is above the bear zone we may see many ups and downs before the final blow will set in.
Conclusion - this stock is at risk zone. Book ur profits.
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