Raymond Limited shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has also broken a resistance level in the short term and given a positive signal for the short- term trading range. The stock is testing support at rupee 1580.
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This could give a
positive reaction, but a downward
breakthrough of rupee 1580 means a
negative signal. Volume has previously
been high at price tops and low at price
bottoms. This strengthens the trend. RSI
diverges negatively against the price, which
indicates danger of a reaction downwards.
The RSI curve shows a falling trend, which
is an early signal of a possible trend
reversal downwards for the price as well.
The stock is overall assessed as
technically positive for the medium long
term.
