Stock Analysis of Relaxo Footwear

Price - 884.55 Dt. - 12-01-2021

It looks like uptrend in Relaxo Footwear is over and the stock given close just 4 points above the support line. RSI is in the overbought zone so we are expecting more profit booking as stock already is in downtrend from last 5 sessions. We are expecting the stock to come till the support zone which is placed at ₹828.55. 21DEMA is at right below the buying zone.
The stock had given an ascending triangle breakout last month and since then it was moving up in continuous pace.


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