##Shriram transport finance## swing oppurtunity

Trendline and moving avg support..also breakout from the small range. buy around 718 to 728 with a stoploss of 668....for a target of 755..770...790++


What's ur view today.yesterday this stock didn't hold its previous gains.
+1 Reply
Skulpin rpnconsultants
@rpnconsultants, yes it failed to sustain its gains and formed a bearigh engulphing candle. if today it fails to take support at the trendline our stoploss will get hit.
+1 Reply
@Skulpin, its just hold the trendline and forming a bullish hammer on trendline although not much support volume..but with sl of 667...we can see upmove to your first tgt...this is my observation..whats ur take...
Skulpin deepakgakhar23
@deepakgakhar23, right observation. But i was actually trying to find out why it fell suddenly so much even after breaking out so beautifully from the range.i found that if you analyse weekly chart it has faced resistance from exact 20ema line. thats why it fell draatically. so even if now after making a hammer it moves up. it will again face resistance there. need to break that resistance to acheive my first target.
thanks for your observation.
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