Raymond @ sweet spot!

This stock has made all time high in Jan 18 @ 1144. Since then it is taking a resistance on a particular trend line which is visible in red if you connect all the swing highs. Since March 20, stock is trading in a upward channel marked by blue lines. Few weeks before stock has taken resistance at its resistance line around 475. After weeks of consolidation it may break that trend line. Looking at a market trend and breakout in textile industry, One may buy 50 % of the stock at CMP and rest 50 % either above 465 or around 400. Once it breaks resistance of 465, then next resistance is at 855 and 1144. Means stock can give more than double returns in long term. Its a worth of a buy with great RR ratio.

Targets - 855 and 1144
SL - 350 Weekly closing basis.
View - Medium to Long term.
Time - 1 / 2 Years.