Raymond is breaking out of a Symetrical Triangle plus it is also making Double Bottoms. Both the patterns are on bullish side supported by the volume. Targets on the chart.
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as individual investment advise or recommendations. I...
Note: This is for educational purpose only.
There seems to be a W pattern in Raymond. Moreover, there seems to be a descending triangle bullish breakout with high volume. RSI is at 57 which is still in neutral zone.
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
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Consider this post as educational.
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 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