Raymond : gearing up for Bigger Target
Good Day ,
Hello Traders,
Raymond coming out of big consolidation as big rounding bottom is formed.
Chart Self explanatory
Time Frame : Daily
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do consult with your financial advisor before taking any
trading decisions..
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RAYMOND trade ideas
#raymond #abfrl #nykaa #arvind #kprmill #kitex #pageind #trident#Raymond
NSE:RAYMOND
NSE:RAYMOND
RAYMOND
CMP: 780
Entry 770
Target 980
SL 700
RR > 3
TF < 6 months
Return ~ 30%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
Raymond India Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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RAYMOND ULTRA BULLISH 🎯1000NSE:RAYMOND broke out from a major wedge pattern and went into a range (pink rectangle) for 1 month before releasing huge momentum today.
Setup is similar to the Precision Wires idea posted few days back. (Up by 25% since posting date)
Price should consolidate for 1-5 days before making the next momentum move towards 1000.
One can enter 10-20% of their position now considering the huge momentum, as a pullback may never come.
Enter with full position after some consolidation and confirmation. Aim for 1:3 setup.
Targets- 850/900/1000+
sl- below 685
LET GO OF THE TRADE AND BOOK PROFITS WITH 20% OF YOUR POSITION IF PRICE RALLIES WITHOUT RETRACE.
Sl is fixed. Position size according to the entry price.
HAPPY TRADING!