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⭐️ Ultra Equity Advice #125 | Buy | Expected Profit 20-32%

OUR RECOMMENDATION

  Buy    SHRIRAM TRANSPORT FINANCE  

CP#606.05
IdeaBUY
Buy Range570 – 600
Target700 – 770
StopLoss*540
Duration7 – 10 Trading Days
Potential Returns^20 – 32%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
606.05BUY570 – 600700 – 7705407 – 10 Trading Days20 – 32%

# CP – closing price on Jan 22, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 660.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW - SHRIRAM TRANSPORT FINANCE

Shriram Transport Finance Company Ltd is India’s most significant player in commercial vehicle finance. The company offers financing for heavy, medium, intermediate and light-duty trucks, passenger vehicles etc. Incorporated in 1978, the company has a pan-India presence with a network of 1,230 branches and 24,533 employees. The company also provides Pre-owned CV financing, New CV financing and other loans like accidental repair loans, tyre loans and working capital finance, etc. Shriram Transport Finance reported 38.35% jumps in net profit at Rs 879.16 crore in Q3FY20; revenue up by 7.39%.

Stock Data
NSE CodeSRTRANSFIN
Sectoral IndexFinancial Services
52W High1367
52W Low440
Face Value10
Relative Performance_Shriram Transport Finance vs Nifty Financial Index

SHRIRAM TRANSPORT FINANCE TECHNICAL ANALYSIS (DAILY)

Shriram Transport Finance Daily Chart
Shriram Transport Finance Daily Chart
  • The stock has remained in a rangebound move over the last 22 days.
  • Presently, the stock price has placed near the Lower bound of this sideways range and based on earlier price pattern, we are expecting the price to go up from here.
    The support was tested earlier twice, thereby making it valid short term support.

SHRIRAM TRANSPORT FINANCE TECHNICAL ANALYSIS (DAILY OBV)

Shriram Transport Finance - Daily OBV Chart
Shriram Transport Finance - Daily OBV Chart
  • The On Balance Volume Indicator is currently giving positive signal as the indicator moving upwards as well as crossed above 15 days EMA.
  • OBV has shown positive divergence – a situation when the price is moving downwards and OBV turned upwards.
  • The price action and momentum indicator indicating an opportunity for a BUY trade. 

LIVE UPDATE - POSITION & ACTIVITIES

Position: Long Shriram Transport Finance at ₹ 585 by GoodluckCapital on TradingView.

Position: Long Shriram Transport Finance at ₹ 585 by GoodluckCapital on TradingView.

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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