Buy SHRIRAM TRANSPORT FINANCE
|Buy Range||570 – 600|
|Target||700 – 770|
|Duration||7 – 10 Trading Days|
|Potential Returns^||20 – 32%|
|CP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Returns^|
|606.05||BUY||570 – 600||700 – 770||540||7 – 10 Trading Days||20 – 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.
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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%.
|Sectoral Index||Financial Services|
SHRIRAM TRANSPORT FINANCE TECHNICAL ANALYSIS (DAILY)
- 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)
- 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.
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⭐️ Ultra Equity Advice 125: ████#Stock Recommendation - BUY— Goodluck Capital (@CapitalGoodluck) April 23, 2020
● Expected Return 20-32% in 7 days
● Minimum profit ₹ 70,000/lot in F&O future
● Risk : Reward = 1 : 3
Daily price of this #stock is above the short term support.#GoodluckCapitalhttps://t.co/dTVf3mZppu