Shriram Transport Technical Analysis #35: Buy | Target Rs 1380 | Arijit Banerjee


Buy Range1230 – 1270
Target1380 – 1400
Duration25 – 30 Trading Sessions
Potential Return^10 – 11%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1259.45BUY1230 – 12701380 – 1400116025 – 30 Trading Sessions10 – 11%

# CMP on Mar 11, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1320.
^ The returns are calculated based on CMP#


Shriram Transport Financial Services, a non-banking-finance company provides commercial vehicle financing in India. The company also offers small business finance loans, including dealer funding, working capital funding etc. In Q3FY19, the company’s Net profit jumped 17.34% percent year-on-year to Rs 635.45 crore.

Stock Data
Sectoral IndexNifty Financial Services
52W High1668.75
52W Low902.3
Face Value10
Relative Performance_Shriram Transport vs Nifty Financial Services


  • The stock extended its northward journey post a crucial break-out
Shriram Transport Weekly Chart
Shriram Transport Weekly Chart


  • Technically the stock had been moving in the higher top and higher bottom formation indicating positive bias.
  • ADX and +DI both above 20 indicate buying momentum and probable further rise.
Shriram Transport Daily Chart
Shriram Transport Daily Chart


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.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


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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