PULL BACK AND BREAKOUT TRADE: SRIRAM TRANSPORT

UPDATE JULY 3 2014- SHRIRAM TRASNPOT HIT  FRESH HIGH 964 WOOOWW PROFIT TOUCHES 57,000 RS

UPDATE: JULY 2 ,2014-MSG GIVEN TO CLIENTS ON JUNE 23 TO BUY SHRIRAM TRANSPORT @ 850  TGT 900-950-1000 LOT SIZE 500 HIT 943 PROFIT 46,500 RS

From: MARKET TRENDZ <trendzofmarket@gmail.com>
Date: Mon, Jun 23, 2014 at 11:56 PM
Subject: PULL BACK AND BREAKOUT TRADE: SRIRAM TRANSPORT

  Shriram Transport Finance on weekly chart broke out above 834 in week of May 16 2014.

Post breakout, the stock rallied all the way to 1020, but if in last few weeks, stock has pulled back to the breakout point again. Technically, the stock should now find support here.
Also, on daily chart – this level coincides with 50 dma.

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Shriram Transport Finance technically should hold the levels of 830-850 over next few days and bounce back again. Remember, Breakouts require tons of patience and one should exit if the stock fails to hold particular level. In case of Shriram transport Finance, the stop loss will be close below 810.