SHRIRAMFIN 1d time frame ascending triangle breakdownSHRIRAMFIN 1d time frame
ascending triangle breakdown
risk reward 1.5
it just a view trade @ your own risk
sl@1877
SHRIRAMFIN trade ideas
ASCENDING CHANNEL BREAKOUTAscending channel pattern was formed on SHRIRAMFINANCE breakout has been done.
Now it's time for bearish move.
Expected Targets are:
TP1 - 1759
TP2 - 1710
TP3 - 1654
SHRIRAM FINANCE Shriram Transport Finance Company Ltd is a part of the SHRIRAM Group conglomerate which has a significant presence in the financing business. STFC is engaged in the business of commercial vehicle financing mainly focusing on trucks from preowned to new ones. It's a Deposit-taking NBFC comprising 1,758 branches, 831 rural centers, and partnerships with ~500 private financiers.
Targets and and stop loss given in the chart
Market Cap
₹ 50,604 Cr.
Current Price
₹ 1,352
High / Low
₹ 1,509 / 1,047
Stock P/E
9.30
Book Value
₹ 748
Dividend Yield
1.48 %
ROCE
9.90 %
ROE
11.4 %
Face Value
₹ 10.0
Promoter holding
25.3 %
EPS last year
₹ 101
EPS latest quarter
₹ 48.0
Debt
₹ 1,25,951 Cr.
Pledged percentage
0.00 %
Net CF
₹ -388 Cr.
Price to Cash Flow
-5.71
Free Cash Flow
₹ -8,893 Cr.
Debt to equity
4.49
OPM last year
69.8 %
OPM 5Year
72.2 %
Reserves
₹ 27,752 Cr.
Price to book value
1.81
Int Coverage
1.63
PEG Ratio
0.56
Srtransfin_10.06.2023Short chance. May have strong resistance. If broken, can rise. For educational purpose only.
SHRIRAMFINANCE--Bullish or Bearish ??Observations::
the stock broken the trendline in Daily timeframe strongly, and tested the resistance.
the previous resistance is acts as a support and price moved up again, testing the resistance one more time and now its again at the support.
---------->> If this time @ support showing some bullish pressure, if this will continue price will break the resistance easily, and creates a new high.
--------->> we have a previous resistance @ 1500 range, this time it will test this range.
--------->> If price breaks 1300 range and support acts as resistance price falls below level of support @ 1200 range and below.
we have a trendline in smaller time frame as well, if breaks & retest will observe bullishness. Keep track this instrument.
SHRI RAM TRANSPORT BREAK OUTYellow Triangle is the accumulation zone..
Breakout above the red line..
Blue Line is buying at the bottom..
Green Line is very Strong historical Support.. SL to be Placed below that..
Dotted Red line is the top level resistance.. Some profit booking can be done at that level for swing trading..
Shriram finanace ltd. I think this stock going up
This stock cross all the moving averages and going up for this laveles
Shriram Finance for targets of 1800Shriram finance is in consolidation since Nov'2021.Stock seems to have completed its consolidation phase and now looking good for targets for 1800.stop below 1300.
SHRIRAM TRANSPORT FINANCE Shriram Finance - Above 1420 big move expected , can be add aft b/o of retesting for big upmove
Shriram Transport Finance IndiaSun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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