Shri Ram Transport - Head and Shoulder Pattern

This is a weekly chart of ShriRam transport Finance Limited.
As shown above stock has given a bearish Head and Shoulder pattern at all time highs on long term charts which signals the big rally it had may be coming to an end.

Sell stock on rallies towards 1180 1220. Positional targets are 940 and 880

Trade attivo:

Modify stoploss to 1155

Trade chiuso: obiettivo raggiunto

Commento:

Stock retested neckline and falling again. Sell with a closing stoploss of 1230 and wait for 880 levels.
More pain ahead in finance sector stocks.