Relaxo Footwear broke resistance & now trading below that but with good volumes it looks like it ll break again n trade above it. Could b bought with said sloss & tgts most probably intraday.
Long on weekly timeframe sl 650....and ride trend it shows bear signal
Bada Breakout- Relaxo #thepowerhouseideas Breakout of range Huge volume on weekly and Daily charts- much more than so many days Gradually increasing on daily Retracment can be seen a bit- can be accumulated till 1260 levels Stop loss below swing low as highlighted (Only for educational Purposes)
Bada Breakout- Relaxo #thepowerhouseideas- youtube- for learning Breakout of range Huge volume on weekly and Daily charts- much more than so many days Gradually increasing on daily Retracment can be seen a bit- can be accumulated till 1260 levels Stop loss below swing low as highlighted (Only for educational Purposes)
relaxo daily chart traingle pattern Break Out buy for target t1 nd t2.
(Daily) - Bull flag pattern breakout - Above Short & Medium term moving averages Target 1335
Relaxo cmp-1087.40 Entry-1042.30 Sl-1003.60 Target-1091.90,1144.50,1197.15
Relaxo has been one of the market leaders in footwear..OPM has been increasing steadily... breakout from channel with large volumes, always a good sign. CMP -1035 Target - 1111 ( short term) Calculate you RR ( risk reward) ratio properly before taking the trade. Best entry would have been 996 or thereabouts... i have marked the target levels considering S&R. Cheers
Relaxo footwear big move expected above 899....915-935
The analysis is done purely on basis of price action and chart patterns. The analysis is done on Daily TF with a long term view. Hence price may take several weeks to months to reach the target. Trade Set-up as well as logic has been given in image itself. Kindly refer the below chart of NIFTY CONSUMPTION chart - RELAXO is a part of NIFTY CONSUMPTION INDEX. ...
RELAXO both side moves are possible let the market side what it have to do ? what do you think guys which move you think is possible and have more probability ? let me know your opinions :
Target 830 SL 686 Time 2 to 3 Months
Bear volume is predominant Still expecting breakout from triangle for long Sl as indicated