Chart Update : RAYMOND

Raymond Chart:

Raymond is falling in a well formed downward trending price channel. There is huge positive divergence in daily chart. Weekly charts are in oversold zone.

Resistance Zone: 

• Trend line resistance:- 274
• 5 week close Ema   :- 273.5
• 21 days Ema          :- 274.5

So based on above studies it can be concluded that 273.5-275 is an area of resistance. conservative buy can be considered on high volume break of 275 for target of 282,288 and 295. 

So,plan your trade accordingly. 

Hindalco Industries Chart udate :Click here 

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All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.