RAYMOND LTD (NSE: RAYMOND) is about to break to the upside Right now, it is completing a descending trendline breakout, which is a bullish pattern.
All important levels have been marked on the chart.
Looking at the chart, we can say that if the price breaks to the upside, there is a high probability that the stock will reach the ₹2,318 target.
For the past few days, volume has also been quite good. If we enter the stock at ₹1,538, we can achieve the target with
Risk: Reward :: 1 : 3.73.
Reasons:
✅ Descending Trendline Breakout
✅ Support at ₹1,426 holding strong
✅ Wait for RSI to cross 65 for confirmation
✅ Successful breakout attempt after months of downtrend
✅ High volume surge, indicating strong buying interest
✅ Price > 50-day & 200-day EMA (bullish signal)
Verdict:
Bullish
Plan of Action:
Enter once the breakout is confirmed to the upside.
BUY: ₹1,538
Stoploss: ₹1,426
Target: ₹2,318
Trailing SL: ₹50
Raymondbuy
RAYMOND looking strong - long opportunity Raymond seems forming a cup and handle pattern (round bottom now) and we can enter above 2140 for targets of 3020 and above levels, (investment call stoploss may is below the round bottom at around 1440)
--> This analysis is only for Educational purpose only, please do your own analysis before investing or taking a trade call so you have conviction to stay with the stock till you get your targets, it is advised not to invest more than 5 to 10% of your capital.