RELAXO trade ideas
Relaxo BreakoutThe stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
RelaxoRelaxo Footwear was facing strong resistance around 1332-1345 from past almost 2 months & get rejected around these levels multiple times.
Today, Relaxo managed to break past these levels & trading above it comfortably although with not that good volumes.
Could be bought with mentioned stop-loss & targets.
RelaxoRelaxo 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.
Relaxo- Swing- Bada breakoutBada 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)
Relaxo- Swing- Bada breakoutBada 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)
Bullish on Relaxo(Daily)
- Bull flag pattern breakout
- Above Short & Medium term moving averages
Target 1335
Breakout 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- Triangle Pattern Breakout & Retesting - Swing/InvestmentThe 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.
The above analysis is for learning purpose and traders should do their own study before entering into any trade. Trade with your own money & risk management.
Feel Free to comment for any query regarding learning price action or for any suggestion.
RELAXO up or down 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 :
Relaxo Break Out and RetestRelaxo Footwears have broken out of the Channel/Triangle pattern and has retested the breakout area. Entered long with strict stop loss. If going further below, better to exit without a second thought.
Possible target just below a recent resistance area.
DONT MISS IT!SYMMETRICAL TRI ANGLE BREAK OUT ON WEEKLY CHART.BUY AT CMP.STOP LOSS EXIT IF CLOSES BELOW 625.TARGET 1000.HAPPY TRADING FRIENDS!HAPPY DIWALI!
