Shriram Transport will ease (During Ease in Lock Down ?)
This Stock Is corrected massively during lock down and previously it is one of the Valued stock in Nifty but will it regaining its lost empire let see ?
Stock has a support 650 levels nearby.
Parallel Channel has started at 442 levels and from there stock is showing higher tops and higher bottoms now stock is at lower end of the parallel Channel if it breaks the channel then the stock will move till 550 level which is 100% retracements.
Stock Support at 637 level which is lower end of the channel and most likely stock has to move higher
Stock is at Major Support level and if continues to hold this support level then another move can come up to 700 Levels
Formation of parallel channel and the stock is trading at lower bottom of the channel
If Support breaks then stock will move till 550 Levels which is unlikely
Stock is Trading at exact 78% retracement level which is again at support level of 637
Fibonacci retracement
100 % Retracement; 566
61.8% retracement Upper - 664
23.60% retracement level upper; 762
RSI; RSI is at 38 at 14 day which is also strength showing in Long Moves
Momentum in last 10 days is also showing improvement towards upper side right now 3.25 Points which is less also which is closer to Support
Levels
Donachian Level Lower Level 626 which is stock is trading at current levels , Basis 646 if breaks can go long up to 666which will be 61.80% retracement level
Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Pls consult your financial advisor before investing in any of the financial instruments.
This Stock Is corrected massively during lock down and previously it is one of the Valued stock in Nifty but will it regaining its lost empire let see ?
Stock has a support 650 levels nearby.
Parallel Channel has started at 442 levels and from there stock is showing higher tops and higher bottoms now stock is at lower end of the parallel Channel if it breaks the channel then the stock will move till 550 level which is 100% retracements.
Stock Support at 637 level which is lower end of the channel and most likely stock has to move higher
Stock is at Major Support level and if continues to hold this support level then another move can come up to 700 Levels
Formation of parallel channel and the stock is trading at lower bottom of the channel
If Support breaks then stock will move till 550 Levels which is unlikely
Stock is Trading at exact 78% retracement level which is again at support level of 637
Fibonacci retracement
100 % Retracement; 566
61.8% retracement Upper - 664
23.60% retracement level upper; 762
RSI; RSI is at 38 at 14 day which is also strength showing in Long Moves
Momentum in last 10 days is also showing improvement towards upper side right now 3.25 Points which is less also which is closer to Support
Levels
Donachian Level Lower Level 626 which is stock is trading at current levels , Basis 646 if breaks can go long up to 666which will be 61.80% retracement level
Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
----------------------------------------------------------------------------------------------------------------------------
Pls consult your financial advisor before investing in any of the financial instruments.