SHRIRAM TRANSPORT- All time high 1625, wait for break to buy.

SHRIRAM TRANSPORT- All time high is 1625, wait for break above it and then either stall above it or weak pullback to buy. 1625 is a major resistance, supply is expected from this level. Sell near resistance and buy near support.
This 1550 zone should be used to book profit, not to go long or short.
By buying here one may win this time but buying below resistance is a definite loosing strategy, one will lose over many trades.

Comment:

As expected supply is coming from 1600 levels, buying can be done around 1300 if the down move is slow, fast down move means break of support zone 1240, will update as price moves.
Would like to reiterate following information -
1. Buy near support and book profit near Major Resistance, do not short here also as it is in up trend.
2. Wait for weak pullback after breakout of Major Resistance to buy.

Comment:

Selling continues, momentum is strong, wait and watch till it tests 1300 or breaks 1625, nothing to do as of now.