Shriram Transport Chart Analysis !!📈 Shriram Transport 📉
This Stock Broke out from a Resistance zone of 1140-1155 after testing two times this range on upside with a strong green candle. If you look closely this resistance also use to be a support in Dec Jan Fab. So It makes this a Strong breakout.
You Can Ride This Stock for Long run.
Bias - Long
Target - 1283, 1402, 1505, 1667
SL - 1085
RR- 1 : 5
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Shriramtrpfinance
SHORT - Shriram Transport FinanceShort around 800 with SL at 830 and Target at 610.
Disclaimer : I am not a SEBI registered investment advisor. All views expressed are for educational purpose only. Kindly consult you financial advisor before trading or investment. I may or may not have position in the stocks described for trading or investment view.
Shriram Transport short , mid term and long term.Doesn't look that good. I have my primary count for Shriram Transport finance doing a WXY down on the weekly frame and its safe to say so as its clearly visible if you zoom out that it completed 5 waves up on the weekly. Although wave structures as big as this don't fulfil their targets 100% but i'll still be keeping my long term targets near INR 2400-2700 ranges , after completion of this large WXY ofc. There's always a possible scenario where it can go for extended correction phase which can then be counted as WXYXZ but i'm not too confident about that , too early to comment on such move down. My primary is WXY as gradually increasing buy volume during the whole movement points towards that.
My short term target for this X up is indicated by that pink line where 5 of C of this larger X ends. Mid term , I'm looking for a Y wave down to 78.6% (INR 300-450 ranges) retracement level of this impulse 1 up on weekly . Taking 5th wave of this hyperwave 1 elongated , we get this target which generally lands around the 4th.
There's another count with elongated 3rd of this larger 1 instead of the elongated 5th, which will then give us our targets around 61.8% (INR 600-700 ranges) retracement level of the whole up movement.
Both the counts are valid down to 99.99% retracement level.
This is not a financial advice and just my view of the market atm . Don't trade on other people's opinions , get on your own and make a plan and trade on them.
Thank You.
SriramTranportFinance - Let's get FinanceHi All,
Everything on chart given.
Wait for Monday price action. (Haste is waste , patience)
Once First target is achieved Book partial /full profit and
trail the rest in case of partial profit booking.
Remember : Profit (Finance) wahi jo ghar aya :-) .
Note : Consult your Financial adviser before investing. Risk of financial loss.
This is for paper trade only.
