NSE:SRTRANSFIN
Hello all!
Shriram Transport is stuck in a flag and Pole pattern here. The Pole and flag patterns are famous for giving great breakouts. It's at the bottom trendline of the flag which I believe is a good place to buy as the Risk is too small and Rewards are big.
Apart from the pole and flag, there are multiple other reasons to go long:
1) Stock is currently in its support zone.
2) It is being supported by its 50 week EMA and 200 daily EMA.
Thus there is a strong triple confluence and the Reward to Risk ratio is also favorable.
Do let me know your thoughts on this!
*NOT A CALL*
Hello all!
Shriram Transport is stuck in a flag and Pole pattern here. The Pole and flag patterns are famous for giving great breakouts. It's at the bottom trendline of the flag which I believe is a good place to buy as the Risk is too small and Rewards are big.
Apart from the pole and flag, there are multiple other reasons to go long:
1) Stock is currently in its support zone.
2) It is being supported by its 50 week EMA and 200 daily EMA.
Thus there is a strong triple confluence and the Reward to Risk ratio is also favorable.
Do let me know your thoughts on this!
*NOT A CALL*