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Raymond In Focus, here’s why


Raymond was at a 21-month high on Wednesday. It has increased 23% in the last three days thanks to volumes.

In the last five days, volumes have increased 2.5 times compared to one-month volumes.

Likewise, its deliverable volumes are also multiplied by 1.5. So there was an increase supported by a good amount of purchases.

Right now the closest support is the 20 day moving average (DMA), which is at Rs 512 and the next support will be the 3 day low at Rs 494.

The reasons for this increase were the anticipated restructuring of the company. Additionally, many of these shareholders are researching the company’s plans for its Thane plot of land and that is probably why such an increase has been seen at Raymond.

Watch Agam Vakil’s accompanying video for more details.

(Edited by : Dipikka Ghosh)


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