Buy Shriram Transport Finance Co: Kapadia

Buy Shriram Transport Finance Co, says Hemen Kapadia, chartpundit.com.

Kapadia told CNBC-TV18, "Shriram Transport Finance Co (STFC) is deeply oversold. It has been down for 6 trading sessions in a row. The hourly mechanical indicators like the MACD are already showing some signs of strength. Infact there is the hint of negative divergence in the 60min oscillators indicating that the bounce is close at hand. Keeping that in mind, one can buy STFC at around Rs 602 with a stop loss of Rs 594 and a target of Rs 618."