Stock Markets are irrational...
The stock markets are always irrational.
Shriram Transport Finance Shriram Transport Finance Company rallied 14% to Rs.1,071.25.
The company reported standalone net profit of Rs.143.90 crore for the quarter ended March 31, 2016, registering decline of 54.57% yoy and 61.63% qoq.
The stock is currently trading above its 50 DMA.
The scrip opened at Rs. 955 and has touched a high and low of Rs. 1082.2 and Rs. 955 respectively.
So far 2525062(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21408.4 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1017.35 on 14-Oct-2015 and a 52 week low of Rs. 736.5 on 21-Jan-2016.
Last one week high and low of the scrip stood at Rs. 998.4 and Rs. 928.25 respectively.
The promoters holding in the company stood at 26.05 % while Institutions and Non-Institutions held 26.19 % and 47.76 % respectively.
The stock is currently trading above its 50 DMA.
The higher time frame Resistance at 950-955 has hold, even with bad results coming in, that's surprise most. How come it did not go down??
It's proves Market is supreme n always right while we could go wrong n that's why the Stop Losses.
One thing here to mention, that now possibly the Scrip is been transfer to Retailer, n suddenly in few days to come we would see a major correction.
Let's see how it behaves, let the learning continue, keep sharing 😊🙏
Shriram Transport Finance Shriram Transport Finance Company rallied 14% to Rs.1,071.25.
The company reported standalone net profit of Rs.143.90 crore for the quarter ended March 31, 2016, registering decline of 54.57% yoy and 61.63% qoq.
The stock is currently trading above its 50 DMA.
The scrip opened at Rs. 955 and has touched a high and low of Rs. 1082.2 and Rs. 955 respectively.
So far 2525062(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21408.4 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1017.35 on 14-Oct-2015 and a 52 week low of Rs. 736.5 on 21-Jan-2016.
Last one week high and low of the scrip stood at Rs. 998.4 and Rs. 928.25 respectively.
The promoters holding in the company stood at 26.05 % while Institutions and Non-Institutions held 26.19 % and 47.76 % respectively.
The stock is currently trading above its 50 DMA.
The higher time frame Resistance at 950-955 has hold, even with bad results coming in, that's surprise most. How come it did not go down??
It's proves Market is supreme n always right while we could go wrong n that's why the Stop Losses.
One thing here to mention, that now possibly the Scrip is been transfer to Retailer, n suddenly in few days to come we would see a major correction.
Let's see how it behaves, let the learning continue, keep sharing 😊🙏
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