Hold Redington for 2-3 months.
*Stock has taken a dip on the weekly time frame and now the dip is over as per the weekly chart.
*Stock is starting a new uptrend after consolidating for two months.
* Targets of 270 looks achievable in 2-3 months... or sell when weekly RSI reaches the level of 85.
*** Stock is undervalued with PE of 15 while the sector PE of...
NSE:REDINGTON just broke out of triangle and is poised for 10% upside. Triangle breakout is accompanied by huge volume. Red area is the Stop Loss area and Green one is the target.
DOWN TREND
MICROTREND BREAKDOWN
WITH VOLUME
FIBO 23 LEVEL
Red candle below entry
Red candle above sl
Incase 3 candlea under not Tigger the entry simply avoid the trade
Educational purpose only
Redington is forming a Triangle Breakout Pattern.
Buy at 145
SL 135
Target 175
Duration 3 Months
Fundamental Snippets:
Market Cap - ₹ 11,278 Cr.
Current Price - ₹ 144
High / Low - ₹ 179 / 57.2
Stock P/E - 12.4
Book Value - ₹ 63.2
Dividend Yield - 2.63 %
ROCE - 21.2 %
ROE - 16.4 %
Face Value - ₹ 2.00
Debt to equity - 0.13
Price to book value - 2.29
PEG Ratio -...
The stock has got split and now it has started to move up from its resistance level. Once it crosses the upper resistance we can expect a rally.Till then small movement is expected and 2 short tarm targets are shown on chart.
REDINGTON after announcing good YoY result yesterday opened with a gap up and is trading above all R3 (Fibonacci).
it has entered into a pervious channel that i had marked before the Small-Cap fall that happened on Wednesday.
today it took support at the lower green support line and moved back up.
also DAILY Heikin Ashi shows strength.
keep an eye out for a...
Redington stock is forming a High Tight Flag pattern. Going long in this pattern can offer excellent Risk Reward.
A word of caution : Redington has announced 1:1 bonus issue (Record Date : 20/08/2021, Ex-Date : 18/08/2021). So if you are buying the stock, you need to factor in the effects of this Corporate Action.
