Technical Analysis – Raymond
Raymond (Rs 237.8): Since the multi-year low of Rs 68 marked in March 2009, the stock has been on an intermediate-term uptrend. However, significant resistance around Rs 250 arrested the stock in January 2010. Short-term investors can hold with target at Rs 250 and stop-loss at Rs 220. Medium-term and long-term investors can continue to hold the stock with stop at Rs 206 and Rs 178 respectively. Decisive break-out of the resistance would reinforce the bullish momentum and lift the stock higher to Rs 300 or Rs 336 in the long-term.
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