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RELAXO:- Wait for breakout, Upside movement can be seen, keep an eye on the stock
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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RELAXO - Expected Value Buying in coming weeks. Consolidation near Resistance and breakout of falling trendline expected. Its good stock to accumulate at this price. Good to add above 866 for short term.
Relaxo corrected about 40% from ATH and consolidating since Nov' 2021. The stock is trading at support trend line drawn from July 2017 and the stock price never broke the support line from last 5 year.
The stock bounced back 10% from the 54 week low and will be testing the support line at 760-800 levels in the coming months. With the stop loss of 20% one can take...
Recommendation:
Short Term Buy: 1108
Short Term Target: 1185
Short Term Stop Loss: Below 1048
Long Term Buy Range: 1048-1108
Long Term Target: 1448-1775
Long Term Stop Loss: 985
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 Long (02 Aug)
RSI- 64
crossed 50 day EMA, Above average volumes since last 8 days
Buy at CMP- 1023
SL- 988
Target- 1085, 1120
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Charts and views are only for educational purpose.
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...
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...
