Shriram Transport Finance Company Ltd. CMP—Rs 576.80
Technical Outlook & Trading Strategy:-
The Shriram Transport has witnessed heavy selling pressure on Friday’s session of trade. The price of Shriram Transport also fell on the back of strong volumes. The Rs 587 levels was the crucial support for the price of Shriram Transport. But now a break below this level has opened up downside targets of Rs 540 / Rs 525 levels. The momentum indicators are also in sell mode and the price of Shriram Transport have been closing below its key moving averages cluster since the past few sessions of trade.
We recommend traders to sell in the range of Rs 574 – Rs 580 levels with a stop loss placed above Rs 601.6 levels for targets of Rs 540 – Rs 525 levels, expected to be achieved in coming few Sessions.
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