Stock Analysis of Relaxo Footwear
Price - 884.55 Dt. - 12-01-2021
It looks like uptrend in Relaxo Footwear is over and the stock given close just 4 points above the support line. RSI is in the overbought zone so we are expecting more profit booking as stock already is in downtrend from last 5 sessions. We are expecting the stock to come till the support zone which is placed at ₹828.55. 21DEMA is at right below the buying zone.
The stock had given an ascending triangle breakout last month and since then it was moving up in continuous pace.
It looks like uptrend in Relaxo Footwear is over and the stock given close just 4 points above the support line. RSI is in the overbought zone so we are expecting more profit booking as stock already is in downtrend from last 5 sessions. We are expecting the stock to come till the support zone which is placed at ₹828.55. 21DEMA is at right below the buying zone.
The stock had given an ascending triangle breakout last month and since then it was moving up in continuous pace.
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