amankavi
Long

Raymond : Ascending channel in action!

NSE:RAYMOND   RAYMOND LTD
Scrip has already crossed the price target defined earlier with bullish harami in motion. Breakout from ascending channel could result in more effective buying henceforth, resulting in major surge

Planning to enter intra-day with price level mentioned in chart aiming towards
Enter above 975 (Post confirmation)
TP - 980, 987, 993, 1000
Sl= As per risk appetite

MACD momentum also showing the way

Trading strategy already mentioned below:

Ascending channel

This is a channeling stock with an upward tilt. The stock’s price action is being controlled by two parallel trend lines . Price follows the path of least resistance in an ascending channel , which is up. Upon reaching the lower trend line , the stock bounces until it reaches the upper trend line , which acts as resistance as well as a profit-taking zone. Trading an ascending channel in the most effective way is through buying dips to the lower trend line for short-term bounce plays, or by waiting for a downside breakout to occur before short selling.

Rest in chart
Comment: Surging high..
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