TRADING RECOMMENDATIONS 10 Oct

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.

TRADING RECOMMENDATIONS 10 Oct

Infrastructure Development Finance Company (IDFC) Ltd. CMP— 116.40

Technical Outlook & Trading Strategy:-

The share price of IDFC has seen a sharp fall from the highs of Rs 145 on 25th July 2011 to the lows of Rs 103.25 Levels.
The stock has since then pulled back and tended to trade within the Rs 103.25---Rs 116 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again on dips up to Rs113—Rs 114 levels with a stop loss placed below Rs 111.8 levels for targets of Rs 122 – Rs 130 levels.