RELAXO trade ideas
Relaxo Footware looking interestingNSE:RELAXO
After a long consolidation for about 4 months, now the stock is trying to breakout.
Stock Volume and Delivery surged by 2.4 times and 3.4 times respectively indicating good interest.
Market cap of the footwear sector is increased by 1.2% in last trading session
RS crossing above zero indicates the outperformance
RSI going above 70 indicates great momentum
Closed above 100 DEMA. Next resistance is the 200 DEMA around 540.
RelaxoAfter a sharp correction, Relaxo stock is in a consolidation phase. Volume is also increasing, and a bullish signal is expected.
Footwear Company Identified A Bat and A Butterfly on MTF, Wait for Better Price to go for positional trade.
Relaxo Relaxing for longStock in a downtrend for a long time. It should find support around these levels.
Disclaimer: View for Educational purpose only. No Trading or Investment advice.
Relaxo Foot wearsRelaxo trading near the strong resistance zone.
If it breaks the resistance level, we can expect some good move to the marked levels
Relaxo Market Cap
₹ 21,529 Cr.
Current Price
₹ 865
High / Low
₹ 974 / 758
Stock P/E
107
Book Value
₹ 80.4
Dividend Yield
0.29 %
ROCE
13.6 %
ROE
10.4 %
Face Value
₹ 1.00
Debt to equity
0.10
Debt
₹ 205 Cr.
OPM
14.0 %
Promoter holding
71.3 %
Sales growth
4.72 %
Profit growth
28.2 %
CMP / FCF
513
Industry PE
78.6
Pledged percentage
0.00 %
Reserves
₹ 1,976 Cr.
Cross over on moving average Stock - Relexo
ENTERY - 867
SL - 805
TARGET- 1053
#RISKMANAGE
IF 50K CAPITAL
Position size(no of share) 8
Investment of capital 6991
MAX LOSS - 500
PROFIT ------(1500+)
RISK TO REWARD (1:3)
RELAXOclosed above 100 DMA 828.08 with increased volume. bog reserve and zero debt. The company is the largest footwear manufacturer in India in terms of volume and second-largest in terms of revenue.
Relaxo for 40% gain in 2 year.it's time to look into relaxo stock now, stock is crawling for many months and we can see aggregation pattern now.
I believe its having potential to give 40% return in 2 year time Fram.
Relaxo available at pre covid levels, attractive RRFundamentals : Strong, Consistent growth on Sales, Profits and EPS. High Reserves vs Debt Free. FII and DII stake increased
Technicals : Into bearish trend but nearing strong support zone.. Trendline support.. Good RR.
R 1: 970 (Trend reverse level)
R 2: 1100
R 3: 1250++
Support Zone : 680-750
Stock To Watch - RelaxoTrendline support and bounce visible at around 800 level
RSI near and volume rising
Disc: not a recommendation, for study
RELAXO LONGThe Elliott Wave analysis indicates that the stock has completed waves (1) and (2) which are shown as blue numbers on the daily chart. Wave (3) appears to be underway at this time.
It is anticipated that wave (3) will have about five subdivisions shown in red colour.
Wave levels shown on chart.
Level of Invalidation
The starting point of wave (1) has been identified as the invalidation level at 748. If the price falls below this level, it indicates that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
VJ
RELAXO- Weekly AnalysisIn the Weekly Chart of RELAXO,
we can see that, it is at decision making point and Halt candle is created.
Enter on breaking its High with Low as SL.
Possible momentums are shown in chart.
Relaxo Footwears LtdIts near its 52 Week low.
Dividend giving stock.
Promoter Holding is good & No promoter Pledged.
Debt is less than reserves.
Demand Zone is marked as green shaded horizontal area.
Supports are marked as green horizontal lines.
Resistances are marked as red horizontal lines.
Stoploss is marked as orange horizontal line.
Price is below 200 EMA on weekly chart.
Demand Zone is from 680 to 570, which may act as reversal zone.
Levels:-
Accumulated 780 - 745 - 715 - 680 - 570
Stoploss 550
Tgts 925 - 1035 - 1105 - 1230 - 1330 - 1445
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.
RelaxoFootware : Fundamentals + Price action pick for LONG TERM Relaxo footware:
Market Cap ₹ 22,184 Cr.
Current Price ₹ 891
52 High / Low : ₹ 974 / 748
ROCE 11.8 %
ROE 8.65 %
Promoter holding 71.3 %
Debt to equity 0.12
(courtesy : screener.in)
In short this ticks all parameters that I value
Price action: This is consolidating in a very small range since last many months.
My planned entry, as well price journey i expect, is marked on chart.
Long OppertunityThe stock was in good uptrend till 2021. later there was a good correction . After correction stock bounced back from major support forming bullish candle stick patterns. This bounce back is associated with a weekly trendline breakout.
RELAXO- Weekly AnalysisIn the Weekly Chart of RELAXO,
we can see that, it is at decision making point.
Possible momentums are shown in chart.
Relaxo Footwears Analysis on 3 Dec 2023Relaxo Footwears Analysis on 3 Dec 2023
Fundamentaly Good stock for Mid to Long term
Stock is near 200 EMA @ 860
Increasing Promotor and FII holding from last 3 quarters
strict stoploss - 850 (on closing basis)
target :- 1050
1100
1200-1300-1450
Positional or Longterm Opportunity in RelaxoGo Long above 858.1 for Targets of 925.35, 992.6, and 1059.85 with SL 790.85
Reasons to go Long :
1. On a Monthly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Relaxo - new leg of upside visiblestructurally looking good for quick upside, worth following
view for edu purpose only.
BREAKOUT, RELAXO FOOTWEAR, 50% RETURNSBUY - RELAXO FOOTWEARS
CMP - Rs. 902
Target - 1: Rs. 1164'
Target - 2: Rs. 1356
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Timeframe - 3 months - 8 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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Relaxo footwear long term uptrend channel on weekly time frame bouncing from rising trendline support forming ascending triangle confirmation on a weekly close above 975 levels .can enter early on bases of strong reversal candle on weekly hammer entry on close above 960 levels .can move towards 1180-1200 levels with support weekly closing bases 835 .
