I had mentioned this stock on 10 Sept in my weekly review. Raymond has given Inverted head and shoulder breakout on weekly charts. This is a trend reversal pattern and one can expect the stock has completed its downtrend and correction and resumed its up trend. Since April 18 the stock was in down trend, however, last week it has given a breakout and consolidating on its previous resistance (Yellow line). This is a right time to enter in the stock with very good RR ratio. My recommendation to hold the stock for long term as it has not started its journey yet. Once it crosses 1143 which is its all time high, the stock will start its real up move. From the current levels the stock is expected to give 100% + returns in next few years.
Target - 856 and 1143 W
SL - 385 W
View - Medium to long term.
Time - 1 Year
Target - 856 and 1143 W
SL - 385 W
View - Medium to long term.
Time - 1 Year
Comment:
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