Relaxo has just entered the cloud. Whichever side it steps out, it will continue. COntinue watching and enter long position when it steps out and gives a closing outside the cloud.
Target no idea as of now. But we can consider 10% to 12% in a period of 1 month.
Keep it on your watchlist and take position if it steps outside the cloud towards the top...
Price - 884.55 Dt. - 12-01-2021
It looks like uptrend in Relaxo Footwear is over and the stock given close just 4 points above the support line. RSI is in the overbought zone so we are expecting more profit booking as stock already is in downtrend from last 5 sessions. We are expecting the stock to come till the support zone which is placed at ₹828.55. 21DEMA is...
Date: 01 Jan 2021
It is forming Ascending Triangle Pattern. If the price breaks out above the resistance of 830 and sustains strongly with good volumes over the next 5-10 days then upside target price will be 1,160 for which the target date will be 30 Nov 2021. The stock is already trading well above all its Daily EMAs.
The stock trades...
Buy Relaxo above 811 stoploss of 780 and Target is 835 and 855..
Study: Ascending triangle Breakout with Big Volume at 803 and stock now consolidating at 805 to 810 range ...after breaking these range stock can move up further...
Note: All levels are on closing Basis.
RELAXO has given a breakout from the trendline and it has formed a symmetrical triangle pattern on the price chart. If it retests the trendline it can be good long move.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.