Shriram Transport Finance Company Limited : Life Insurance Company ( NSE:SRTRANSFIN ) is Making Strong SR Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke...
a. Zone: Strong Bear
b. Resistance 1: 762.30
c. Resistance 2: 798.60
d. Support 1: 653.40
e. Support 2: 544.50
Srtransfin is currently trading at 652 which is very close to its first support. One needs to keep patience to see the price movement at this level. If it breaks below this level then next support will be at 544.50 which is approx 17% down.
The graph has entered a strong demand zone right now. Today's trend could to be bullish. However the rise would only be for a further fall.
Going Long would be beneficial as of now till the price reaches 688 .
If the trend falls even below this strong demand zone, then go Short.
(This is a trend-based analysis and prediction; one must trade at his/her own risk)
SRTTRANSFIN will be good above 735 if breakout happen with good volume.
Note - These are not buy or sell recommendation. Kindly do your own analysis before investing your money into any kind of financial instrument.
Levels are mentioned on chart for Swing trading.
Please check the description section for early entry level in given stock to get better Risk to Reward ratio.
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Early entry: 680
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