SRF: Reclaiming the 50-Day Average Is the Key Test

closed at ₹2,512 on 18 September, down 0.7% for the day. The stock has been correcting from the July high near ₹2,950 and continues to form lower highs, so the larger short-term structure remains under pressure. The 20-day moving average is at ₹2,493, while the 50-day moving average is higher at ₹2,533. Price has reclaimed the faster average but remains below the slower one. That makes ₹2,533 the first important hurdle. A sustained close above it would suggest that the recent decline is losing momentum and could open the way towards ₹2,600–₹2,650. On the downside, ₹2,450 is the immediate support zone. A close below that level would weaken the recent rebound and bring the ₹2,400 area back into focus. For now, SRF is a recovery attempt inside a broader correction, not yet a confirmed trend reversal. SRF’s diversified chemicals, packaging films and technical textiles businesses give it multiple growth drivers, but the chart still needs confirmation. The clean signal would be price moving above the 50-day average with follow-through.