RAYMOND BUY LEVELS
BUY ABOVE 263 on closing basis
TARGETS: 266, 273, 280
if sustain above 282-285 then 300-305 possible
Posting for Educational purpose only
Closing Basis means stock need to trade above 263 between 3:25 ~ 3.30 PM
If my analysis appears OK then please LIKE, FOLLOW and SHARE to get more future ideas
Professional Day/ Short-Term Swing Trader. Ideas and entities are opinions. Trade at YOUR OWN RISK. I AM not your financial advisor. Risk it for the biscuit.
Consider this post as educational.
Factors:
a) Falling wedge pattern near historical support lines.
b) Falling flag breakout pattern inside wedge.
c) 20 EMA line acting as Dynamic support at breakout for the next candle if its opening >= Previous close. Probable 20 EMA line upside closing break.
d) An End of a swing low with initial buying thrust.
Short Term...
Positional Trades:
Short below 245 for 240, 238.5, 235 with SL at 250
Aggressive traders may want to initiate short at 248.5 !
Below 238 would be an ideal point for buying OTM August expiry call option.
Raymond standing on longterm strong support of 223
Considering all global index's are in positive incase if market opens positive,
should reach 235.
Incase if breaks this support level next strong support is around 177 and can be considered for good shorting
THERE IS A GAP AS MENTIONED AND IT HAS TO BE FILLED SOMEDAY WE CAN GO SHORT AFTER 30 MINUTE CANDLE CLOSES BELOW 739 TARGET IS WRITTEN FOR SHORT SIDE 685 APPROX
Raymond was mentioned in the NSE Website as Price band hitter on 8th November, 2019, with reporting huge volume on 8th November, 2019.
It's worth noticing the stock has moved over 200 points in the last 4 working days. The trend seems to be bullish. Please check out the NSE Website for the volumes and OI in Raymond before carrying out any positions in the stock....
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 10 to 15 times.
