Sell Shriram Transport, advises Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Shriram Transport Finance Corporation is a slightly confusing chart. A big rally told us may be V shaped rally is coming. It did come but it stalled almost immediately."

He further added, "We had a short sell earlier also and again we are repeating that short sell because a V shaped rally that stalls at resistance tells us that was a bear market rally. So it is probably coming down lower." At 10:04 hrs Shriram Transport Finance Corporation was quoting at Rs 549.50, down Rs 9.45, or 1.69 percent. It has touched an intraday high of Rs 559 and an intraday low of Rs 548. The share touched its 52-week high Rs 841.80 and 52-week low Rs 465.20 on 28 May, 2013 and 28 August, 2013, respectively. Currently, it is trading 34.72 percent below its 52-week high and 18.12 percent above its 52-week low. Market capitalisation stands at Rs 17,597.97 crore.