Relaxo Footwear - Long Positional Trade
1. Relaxo footwear forming a consolidation through a triangular pattern.
2. Stock has been in uptrend since it has been listed with only minor pullbacks
3. Fundamentals of the company look good. With promotion of "make in India" and "Vocal for Local" the local brands look promising. ROCE of the company is around 25x.
4. Key Levels-
Entry @ 660
Stop Loss @ 575 (Can keep GTT if broker permits)
Target Zone - 850 to 1000
Holding Horizon - 6 Months to 15 Months.
2. Stock has been in uptrend since it has been listed with only minor pullbacks
3. Fundamentals of the company look good. With promotion of "make in India" and "Vocal for Local" the local brands look promising. ROCE of the company is around 25x.
4. Key Levels-
Entry @ 660
Stop Loss @ 575 (Can keep GTT if broker permits)
Target Zone - 850 to 1000
Holding Horizon - 6 Months to 15 Months.
Trade ativo:
Stop Loss updated to 685