Chart of the week. RaymondsThis Black horse of mine came on chart on 10 October 21 hardly a year back when it was trading on 462. The chart was very promising, hence it was my chart of the week for that week. The chart was saying double returns in nearly 2 years, however, all the targets achieved within a year. Thanks to all who took positions! Enjoy the profits!
This week again it has given a breakout after achieving all its targets. Now it will trade in uncharted territory. Now the targets would be up to 4300 on weekly basis . I have not given any Stop loss for this trade as we have taken positions long back and I would strongly recommend to hold this stock for more 2 years . New entrants may keep a stop loss of 900.
CMP - 1300 W (5/11/22)
T - 1700, 2660, 3600
View - Medium to long term
RAYMOND trade ideas
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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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
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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!