Observations::
the stock broken the trendline in Daily timeframe strongly, and tested the resistance.
the previous resistance is acts as a support and price moved up again, testing the resistance one more time and now its again at the support.
---------->> If this time @ support showing some bullish pressure, if this will continue price will break the resistance...
Shriram finance is in consolidation since Nov'2021.Stock seems to have completed its consolidation phase and now looking good for targets for 1800.stop below 1300.
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
SHRIRAM Transport is ready to rally to 800 and can give breakout at 755 to rally towards 940. buy at the support line on the chart.
Forming higher highs and Lower highs indication of strong rally.
Hello Guy,
If you like my idea you can please share with your friend and comment if you have any question regarding it
Those who can find stocks for Positional buy, I am suggesting to buy Shri Ram transport it can give good return in upcoming weeks for Target toward 600-700-800.
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THANKS, REGARDS
RAVINDRA
