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Raymond Ltd (RAYMOND)
Likely target: Rs 700
Upside potential: 14%
The shares of Raymond Ltd have conquered the 200-weekly moving average (WMA) placed at Rs 579 after a gap of almost two years, with volumes showing an aggressive rise. This move occurred when the Relative Strength Index (RSI) entered the overbought condition with share price showing extreme bullish bias, according to the weekly chart. The momentum and direction are expected to stay upward with the rally heading towards Rs 700 levels from a short to medium-term outlook. The support for the stock can be expected at Rs 560 and Rs 540
Likely target: Rs 700
Upside potential: 14%
The shares of Raymond Ltd have conquered the 200-weekly moving average (WMA) placed at Rs 579 after a gap of almost two years, with volumes showing an aggressive rise. This move occurred when the Relative Strength Index (RSI) entered the overbought condition with share price showing extreme bullish bias, according to the weekly chart. The momentum and direction are expected to stay upward with the rally heading towards Rs 700 levels from a short to medium-term outlook. The support for the stock can be expected at Rs 560 and Rs 540
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