Relaxo Footwears is a well known brand in the manufacture and marketing of footwear and related products. It operates through the Foot ware and Related Products segment. Since its launch, this stock has given massive 6592% return in 12 years and has potential to grow more.
After making lifetime high, stock has corrected more than 50% and has changed it’s trend from negative to positive in weekly chart. Also, ot has given healthy breakout of the higher timeframe trendline.
On daily chart, it is trading in a channel and currently it is at the lower part of channel. It has tested its immediate supply of 952 and closed near the same level with positive momentum.
In coming days, we can expect a breakout and immediate target will be 980.
One can buy it in swing for the targets of 980,1000. Stop loss will be 910.
Agressive buyers can buy at CMP amd safe traders can buy once proce sustain above the neckline. After sustain, SL can be moved to moved to 930. Follow your risk management.
Happy trading :)
After making lifetime high, stock has corrected more than 50% and has changed it’s trend from negative to positive in weekly chart. Also, ot has given healthy breakout of the higher timeframe trendline.
On daily chart, it is trading in a channel and currently it is at the lower part of channel. It has tested its immediate supply of 952 and closed near the same level with positive momentum.
In coming days, we can expect a breakout and immediate target will be 980.
One can buy it in swing for the targets of 980,1000. Stop loss will be 910.
Agressive buyers can buy at CMP amd safe traders can buy once proce sustain above the neckline. After sustain, SL can be moved to moved to 930. Follow your risk management.
Happy trading :)