SRF is going against the market tide, and if the investors want to take advantage of this volatility, buy it above Rs 196. The stop loss is at Rs189, and it will definitely reach above Rs 200, in today’s session.

Hitendra Vasudeo of stockmechanics.com has given this day trading call.

SRF is looking too strong at current levels. Today the stock opened at Rs 185.20 on BSE, as against its previous closure at Rs 187.40. The 52-week high of the stock was Rs 211.55 on BSE.

Today, the stock has gained above 8% at Rs 202.50 up till now (2:00 pm). Don’t miss the opportunity. Buy the stock and see the difference. It will really outperform the stock market.

The company, on Dec 18, has announced that it is planning to invest around Rs 2.57 billion for setting up a greenfield packaging film manufacturing plant and a captive wind power turbine over the next two years.

The company would be investing Rs 1.65 billion to double its packaging film production capacity in the next two years and would be injecting Rs 920 million for setting up a wind power turbine in Tamil Nadu to meet the captive demand for three of its manufacturing units in the state.

The company will fund the proposed investment through a mix of debt and internal accruals.