Shitij Gandhi
Raymond has witnessed a sharp recovery from Rs 600 and tested Rs 780 in a short span of time. However, since then, the stock has been consolidating in a range of Rs 720-780. This week we have observed a fresh breakout in prices after two weeks of consolidation. The breakout has been seen above the rectangle pattern which is generally traded as a continuation pattern.
So, traders can accumulate the stock in a range of Rs 780-790 for the upside target of Rs 860 with a stop loss below Rs 730.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
