Fundamentals : 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
The 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...
In 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.
Its 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...
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...
The 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 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
Go 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...
BUY - 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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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 .
Relaxo looks good after breaking a parallel channel resistance and closed above so i am planning to go in it long after this breakout for the target of 962, 985, 1004 with taking a stop loss of below channel resistance close is looking a good support now an that is 920 on daily candle basis.
NOTE- Only for Education Purpose.
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Relaxo Footwears is a well known brand in the manufacture and marketing of footwear and related products. It operates through the Foot ware and Related Products segment. Since its launch, this stock has given massive 6592% return in 12 years and has potential to grow more.
After making lifetime high, stock has corrected more than 50% and has changed it’s trend...
Reversal of trend and a breakout Formation in longer time frame. Bullish positional trade can be initiated above 864 for the target of 1033,1088 and 1170
*Observation in Weekly TF*
RSI : Above 60 (In Momentum)
MACD : Above Zero line and uptick
BB: Upside Challenged
EMA 50 : Price is roaming around EMA 50
*Observation in Daily TF*
RSI : Above 60 (In Momentum).
MACD : Toggled near Zero Line and crossover done.
BB: Bollinger Upside challenged after getting squezzed.
EMA 50 : Price > Closed above EMA 50.
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