Technical Analysis Shriram Finance Limited.

The stock

has been in a solid primary uptrend rallying impressively from the 600-700 zone up to nearly 1100. Recently it experienced a sharp but healthy correction down to the 880-900 zone before bouncing back. It is currently trading at 1011.30. Resistance Zones the immediate hurdle the stock faces is around the 1040 - 1050 level. If it crosses and sustains above this the next major resistance is the previous swing high near 1080 - 1100. A solid daily closing above 1100 would be required to confirm a fresh multi-month breakout. Support Zones immediate support has shifted up to the 960 - 980 area where it recently consolidated before pushing past 1000. If the stock reverses the major base to watch is the recent swing low of 880 - 900. Existing Holders continue holding your positions but trail your stop-loss safely below the 960 support level to protect your capital in case of a sudden reversal. Short-Term Buyers fresh entries can be taken near current levels around 1011 for a quick swing trade targeting the immediate resistance zone of 1040 to 1050. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.