Please check the daily chart of Relaxo footwear, the stock has given the clear breakout of 680 but close below the level. Nevertheless stock in bullish mode can be taken above 680 for next level of 715. once the stock cross the level of 720 than the target price is 765 in upcoming session. So add the stock in your watch list for next trading session. Always do...
1. Price took the reversal from 50% retracement level on day chart. 2. Doiji on day chart with volume indicate about to form shooting star formation on day chart. 3. SELL BELOW: 650 TARGET 639, 628, 625 SL : 668
Take your first tranche of position (30%) and once it closes above Span B, take your final tranche of position (100%). R:R with first tranche is 1:1 but as we move to the final tranche of position R:R would improve and from there start trailing SL with 8% gap. As we achieve targets, exit 30%, 30% and 40% respectively.
bata
Buy RELAXO on a close above 714 T1: 760 T2: 835 SL: 669
Relaxo seems to have broken out of it's downtrend and has completed an a-b-c correction. It can be longed with a stop below the 0.618 fib with a target of an all time high.