abhay1729

Raymond showing a strong bullish momentum

Long
NSE:RAYMOND   RAYMOND LTD
Consider this post as educational.

Factors:

a) Falling wedge pattern near historical support lines.
b) Falling flag breakout pattern inside wedge .
c) 20 EMA line acting as Dynamic support at breakout for the next candle if its opening >= Previous close. Probable 20 EMA line upside closing break.
d) An End of a swing low with initial buying thrust.

Short Term Profit:
If opening is bullish:
Entry: 5 mins Time frame 1st candle high
Stop: 5 mins Time frame 1st candle low
Profit: min 2-5 RR
Long term Profit:
Entry: Previous day candle high
Stop: Previous day candle low
Profit: Volatility based trailing stop loss. 300+ target in max of one week.