Relaxo is one of the beaten down candidate from it's sector with on manufacturing unit and a strong customer base, as the demand rebound and the story of India's growth continue to hold and significant upside is open, on the fundamental note the top and bottom line continue to grow at moderate growth rate and there is growth that has to unfold in the coming year the stock is beaten down around 40% from it's high and there is and opportunity to go long on the stock to benefit as there is classic bullish inside candle form on weekly basis and one can go long around the level ofthe upside of inside candle with a stop of .25ATR + low of the same candle.
Happy Investing
Happy Investing
Comment:
trade is executed at 930.50 with 25 quantity and the stop loss is 880.5 and the risk is RS 1250, let see how this yield in future.