Buy Lux Industries 40% returnLux Industries chart if back-tested shows that it has traded in a range between two price points 1123 and 1559. The range is around 40% wide and today the stock has touched the bottom of the range. After touching this price it has touched 1559 in a short period of time in the past for a total 4 times. The years in which the range was covered are 2017, 2019,2020 and the latest being 2023 itself. In 2023 it made a bottom at this price and then bounced back. History will repeat itself and the stock will again touch 1559 very soon.
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LUXIND
LUXIND - Bullish Consolidation BreakoutNSE: LUXIND is closing with a bullish consolidation breakout candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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LUX INDUSTRIES Trend AnalysisA small cap company with strong fundamentals.
Technically neutral as price is consolidating near KEY SUPPORT level at golden FIB zone after a long term downtrend.
Bullish divergence with RSI indicating the price is bottoming out in confluence with the edge of the pitchfork.
Good to accumulate around 1630-1730 levels for the following targets:
Short term swing target @ 3500 (106% ROI)
Medium term swing target @ 4300 (153% ROI)
Long term positional target @ 5460 (221% ROI)
Do your own due diligence before taking any action.
Peace!!
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NSE:RAYMOND
NSE:RAYMOND
RAYMOND
CMP: 780
Entry 770
Target 980
SL 700
RR > 3
TF < 6 months
Return ~ 30%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
lUX iNDUSTRIES
SA 2865
TARGETS 3265-3400
SL 2478
Lux Industries Ltd. announced its results for the quarter ended December 2021 and has reported robust performance for the quarter ended December 2021.
Lux reported revenue of Rs 668.01 crore for Q3 FY’22 as against Rs 539.79 crore for Q3 FY’21, reporting growth of 24% YoY. Its revenue for the 9M period ended December 2021 was reported at Rs 1791.96 crore as against Rs 1363.55 crore for the previous 9M period, reflecting a growth of 26% YoY.