# Breakout in SRF ?

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#1
4th October 2004, 06:02 PM
 Member Join Date: Jul 2004 Location: Hyderabad Posts: 345 Thanks: 7 Thanked 91 Times in 50 Posts
Breakout in SRF ?

Hello ,

I am very new to technical analysis .I am attaching a chart of SRF and thinking its a breakout from descending triangle pattern . Please correct me if i am wrong . Traderji , please give me your opinion on this chart and if it is a break out please let me know the targets also . .Thank you

Regards
Naresh Cherukuri

Last edited by nareshch; 10th July 2008 at 08:21 PM.
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#2
5th October 2004, 10:05 AM
 Super Moderator Join Date: Jun 2004 Posts: 1,787 Thanks: 2 Thanked 793 Times in 128 Posts
Re: Breakout in SRF ?

Good call Naresh,

SRF has indeed broken out of a small descending triangle pattern or pennant.

The initial target can be calculated by adding the height of the triangle to the breakout level.
#3
6th October 2004, 11:10 AM
 Member Join Date: Jul 2004 Location: Hyderabad Posts: 345 Thanks: 7 Thanked 91 Times in 50 Posts
Re: Breakout in SRF ?

Quote:
 Originally Posted by Traderji Good call Naresh, SRF has indeed broken out of a small descending triangle pattern or pennant. The initial target can be calculated by adding the height of the triangle to the breakout level.
Thank you Traderji .

SRF zooms today and up by 8% to 52.5 Now .I am unable to find the exact targets yet . Is it 47 ( where the breakout occurs) + ht.of traingle ( 52.9-44.85) = 55.05 ?

Regards
Naresh Cherukuri
#4
6th October 2004, 11:44 AM
 Member Join Date: Jul 2004 Location: hanamkonda Posts: 130 Thanks: 0 Thanked 10 Times in 5 Posts
Re: Breakout in SRF ?

hi naresh,
The resistance for SRF is 53 ,if it closes above that then hold on to your position for some more days which can give good return.I think 53 resistance will not stop its upmove.
#5
6th October 2004, 11:53 AM
 Super Moderator Join Date: Jun 2004 Posts: 1,787 Thanks: 2 Thanked 793 Times in 128 Posts
Re: Breakout in SRF ?

Quote:
 Originally Posted by nareshch Thank you Traderji . SRF zooms today and up by 8% to 52.5 Now .I am unable to find the exact targets yet . Is it 47 ( where the breakout occurs) + ht.of traingle ( 52.9-44.85) = 55.05 ? Regards Naresh Cherukuri
That is correct.
#6
21st April 2011, 11:00 PM
 Member Join Date: Oct 2007 Posts: 10,898 Thanks: 9,523 Thanked 17,393 Times in 6,031 Posts
Re: Breakout in SRF ?

 The Following User Says Thank You to sudoku1 For This Useful Post: timepass (22nd April 2011)
#7
21st April 2011, 11:42 PM
 Member Join Date: Feb 2011 Posts: 1,363 Thanks: 367 Thanked 4,192 Times in 1,125 Posts
Re: Breakout in SRF ?

Question asked on 6th oct. 2004 11.53 am answered 21st apl 2011 11.00 pm great going
 The Following User Says Thank You to manoharpillai For This Useful Post: sudoku1 (22nd April 2011)
#8
22nd April 2011, 10:04 AM
 Moderator Join Date: Nov 2010 Location: Idhar ich, aur kidhar? Posts: 18,379 Thanks: 53,074 Thanked 31,418 Times in 13,426 Posts
Re: Breakout in SRF ?

Quote:
 Originally Posted by manoharpillai Question asked on 6th oct. 2004 11.53 am answered 21st apl 2011 11.00 pm great going
The answer is helpful to many other members too.
 The Following User Says Thank You to timepass For This Useful Post: sudoku1 (22nd April 2011)

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