Rectangle pattern formed Very astounding consolidation Both support and resistance are crucial Though the trend is bullish so we can expect a upside breakout
Shriram Transport Fin has formed a triple bottom along the trendline support. Previous 4 attempts to break through the resistane have failed. Any day the stock manages to close above 1515 should signal a further upmove towards 1625 in a short time.
Entry can be made around 1360 Stop loss below 1300 Target 1520 and above
TARGET 1700 ESTIMATED 20+ % RETURNS
SRTRANSFIN can show bullishness if breaks upside. (for educational purpose only)
SRTRANSFIN taking support over lower TL of the triangle pattern. Enter if forms any bullish price action in lower time frames (1 hr 2 hr) on closing basis. SL below the marked level and target for the supply zone. Low risk with a decent reward.
Notes: Been in a horizontal channel since 1st Feb 2021 (1260 - 1535). This is the 4th testing of the top wall of the channel. That too, the gap between 3rd and 4th testing is just a few days as opposed to the others which were a few weeks apart. If the resistance zone (1510-1535 almost 2%) is broken, we could expect to see fresh highs. Please note...
SRTRANSFIN is steadily making higher lows but is failing to close above around 1525 odd levels. The uptrend is intact and upward momentum is possible if it closes above the zone with good volumes. Keep an eye on this stock, may give a short term trade in the near term.
TREND ANALYSIS & TRADE SETUP ! WAVE ANALYSIS !! Follow Chart Instruction. Do not be Hurry for entry. Wait for Proper Entry Setup. Buy/Sell with Best Risk Reward. Educational Chart Only. Wait for ENTRY CONFIRMATION ! Risk:Reward: 8-10 times.
Intraday view on SRTRANSFIN 15 min tf along with 1 hour combined.
Srtransfin is moving beautifully in this channel pattern. can be traded inside this pattern for the long side if forms a bullish candle at the current level or Short trade if breaks the TL support.
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SRTRANSFIN (Daily):- Breakout Candidate :) 1) Rectangle Breakout Soon :) 2) Wait for Volume Conformation
Short Shriram Transport Finance Stoploss 1450 Target 1365 and 1330
keep eye on this stock ,resistance formed there is very crucial
- Weekly chart - Poised for ATH Breakout - Looks good for swing/positional trade if sustains above resistance line - Manage risk using stoploss and position sizing