Buy RelaxoBuy Relaxo Stoploss 855 Target 890 ..Can take entry near retest area of 890 and 875
Triangle Breakout
RELAXO
RELAXO BULL FLAG BREAKOUTRELAXO Footwear is a strong fundamental and growing company which has given bullish flag breakout. Start accumulating for long term investors.
Relaxo - Long after steps out of the cloudRelaxo 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...
Closing outside the cloud is important
Stock Analysis of Relaxo FootwearPrice - 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 at right below the buying zone.
The stock had given an ascending triangle breakout last month and since then it was moving up in continuous pace.
Buy RelaxoBuy 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 Footwear - Long Positional Trade1. Relaxo footwear forming a consolidation through a triangular pattern.
2. Stock has been in uptrend since it has been listed with only minor pullbacks
3. Fundamentals of the company look good. With promotion of "make in India" and "Vocal for Local" the local brands look promising. ROCE of the company is around 25x.
4. Key Levels-
Entry @ 660
Stop Loss @ 575 (Can keep GTT if broker permits)
Target Zone - 850 to 1000
Holding Horizon - 6 Months to 15 Months.
Watch Out RELAXO FOOTWEARSRELAXO 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.
Happy Trading.
Relaxo Footwears - Symetrical Triangle breaking upwardsTargets 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 am not your financial advisor. Risk it for Biscuit.
Breakout in RelaxoRelaxo has broken the range in which it was accumulating for past few weeks. Can easily see the targets of 750 levels in upcoming 3-4 weeks.
RELAXO : Positional Buy Trade SetupNSE:RELAXO
Hi Traders,
RELAXO trade setup and entry and target level on chart.
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Relaxo- Inverse Head & ShoulderVery aggressive entry is when it bounce back from 625.
Aggressive entry is at 644
Conservative entry is when it breakouts from 675
RELAXO ISLOOKING GOOD AT ALL TIME FRAME FOR LONG ABOVE 670Relaxo has been in pennant since 19 Aug which broken in last trading session . Good to buy above 670
Relaxo share for long entry.Stock of Relaxo share is in side ways moment since some time & now approaching towards resist.level. Also stock is forming the ATP pattern which is again the bullish sign. RSI is in middle range. Long entry can be taken after the BO of TL of Resist level above the price of 635 for the next target level of 665 with the SL of 621. So add the stock in your watch list to see the price action movement of the stock.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
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Relaxo downtrend short term setupRelaxo still continue on downtrend if not sustain on today close or start falling down near 608 supply zone targets would be 590/580/575/578
