Raymond ticks all the boxes of a perfect set-up!

The stock is extremely bullish on all front and technical parameters, showing no signs of reversal. It has the potential to deliver good returns in the times to come.

Raymond Limited, which is an Indian lifestyle, textile & branded apparel company, earned good profits YoY except in the last year where it was hit severely by the COVID-19 pandemic as the stores remained closed for a very long time. However, strong positive commentary by the management revived the hope of investors, which is evident from its stock price.  

The promoters hold half the stake of the company while the FII and DII hold 7 per cent & 4 per cent, respectively. The remaining part is held by the public. The promoters have held their stake constant for a very long time.  

The stock is up by 60.63 per cent YTD while its three-month performance stands at 37.88 per cent. This shows that the stock is trending for quite some time. Today, the stock is up by a massive 7.8 per cent, taking out its 52-week high. The stock was hovering around its high before breaking out with a big volume. It trades above all its key moving averages by a huge margin while RSI is showing strength at 73. The +DMI is well above its –DMI, which shows potential in the stock for the coming days. The stock is extremely bullish on all front and technical parameters, showing no signs of reversal.  

Raymond Limited, which is a small-cap company engaged in wool & wool-blended as well as shirting fabric and has a market cap of Rs 3,569, can be a great stock for trading in the short to medium-term. It has the potential to deliver good returns in the times to come. Traders must track this stock and get the benefit of its momentum.