Relaxo Long (02 Aug)
crossed 50 day EMA, Above average volumes since last 8 days
Buy at CMP- 1023
Target- 1085, 1120
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RELAXO; huge accumulation going on ; safe trade fundamentally strong; hold it for years ; it can easily give 40 percent return; ab kya chiye ; safe trade; bata & mirza already given the run up;its time for relaxo
Relaxo is forming kind of inversted HNS in daily timeframe and breakout is still due.
Note that there is no volume as of yet so it's a wait and watch.
Once it breaks out it can show a potential upside upto 1100 levels.
The chart speaks for itself.
S1 seems like a good buying range upon a strong bounce.
If S1 breaks, S2 seems like the next best support as per Fib and Price Action as well.
RSI has reached 30 in weekly chart showing some MOS.
The PE ratio has been high due to fall in EPS this year. However, such setbacks are temporary in nature for a fundamentally strong...
Few Important rules from my Trading Philosophy:
1. Don't compromise on the quality of stock.
2. Buy right, Sit tight- Only sell in loss if the fundamentals deteriorate, problems arise in management or any other similar issues.
3. Don't invest more than 5-10% in any stock & more than 25% in any particular or related sector. If stock is risky...
On the daily chart, RSI of 9 days crossed below RSI of 21 days and no sign to move up. Expecting a price correction to 1200 levels from here (CMP1318) which is around 10%.
If selling pressure increase it may go up to send level of support at 1140 which have less chances.
Therefore buying range would be around 1200 levels if RSI indicates for positive side. I...
RELAXO has been following a bullish ascending parallel channel as observed in daily and weekly timeframe and close to breakout levels from this channel pattern as it scales it all time high.
Indicators confirming/strengthening our bullish conviction for RELAXO:
The Stochastic RSI gave a leading crossover indcation at levels of 1340 which was confirmed by the...
This is follow-up on Relaxo Footwears. Can check link to related ideas.
Target 1 achieved. More than 37%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please...