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Price and trend forecast of RELAXO for Tomorrow, Weekly, Monthly

Relaxo Footwears Limited

Symbol: NSE:RELAXO

ISIN: INE131B01039

816.15

As on 2024-05-27

762.45 (52W Low) 974.00 (52W High)

RELAXO's Today's Performance

Relaxo Footwears Limited started the day by opening at 820.10 today 2024-05-27. Its shares reached a high of 829.90 and dipped to a low of 815.00 in intraday. When the markets closed, RELAXO’s stock price settled at ₹816.15 per share. Also check out its key support and resistance levels.

RELAXO Buy/Sell Targets

Tomorrow, sell RELAXO when its price reaches ₹ 816.15 with a stop-loss order at ₹ 822.16. You can set the target price as ₹ 810.14 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of RELAXO for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for RELAXO

Downside Targets Value in ₹
Tomorrow Down Target 1 826
Tomorrow Down Target 2 835
Tomorrow Down Target 3 841

Important Levels for RELAXO

Holding Levels Value in ₹
Tomorrow Up Target 1 811
Tomorrow Up Target 2 805
Tomorrow Up Target 3 796
Based on where the stock opens tomorrow, if RELAXO opens on a positive note, our first target will be ₹826. If Target 1 is achieved, we will aim for Target 2 which is ₹835.

But if RELAXO falls below the average value of ₹820.35, you can enter a sell side position with target number 1 - ₹811 and second target - ₹805 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of RELAXO

Looking at RELAXO, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, RELAXO has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for RELAXO is moderate bearish.

Tomorrow's Volume based share price Forecast for RELAXO

RELAXO's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -31%.

Reversal detection for RELAXO

Predicted trend chart of RELAXO tomorrow for price forecast
RELAXO may trend may continue to be bearish since stock is making lower low and we can get target of ₹825 in morning tomorrow
Target 1 tomorrow826
Target 2 tomorrow830
Target 3 tomorrow835
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with RELAXO's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if RELAXO opens on a positive note, our first target will be ₹825.70. If Target 1 is achieved, we will aim for Target 2 which is ₹835.25.

But if RELAXO falls below the average value of ₹820.35, you can enter a sell side position with target number 1 - ₹810.80 and second target - ₹805.45

RELAXO's Weekly Targets
1st Up Target 825.70
2nd Up Target 835.25
1st Down Target 810.80
2nd Down Target 805.45

As the week for RELAXO ended on bearish sentiments, we can expect further continuation of this sentiment. RELAXO's initial target will be 825.70 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 810.80 in the upcoming week.

Weekly OHLC Values
Open 820.10
High 829.90
Low 815.00
Close 816.15

Week for RELAXO started with an open price of 820.10, and the close was at 816.15. RELAXO reached the highest of 829.90 and dipped lowest up to 815.00 last week. This indicates a bearish sentiment for the week.

RELAXO full month swing targets
Monthly Up Target 1 840.60
Monthly Up Target 2 850.15
Monthly Down Target 1 795.90
Monthly Down Target 2 775.65

Targets of ₹840.60 can be expected to be reached in the coming month. Once RELAXO achieved this target, we can aim for the next upside target of ₹850.15.

RELAXO if fails to hold upside, down targets of ₹795.90 and ₹775.65 can be achieved by end of this month.

For complete three weeks if RELAXO is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as RELAXO

Symbol Name Industry
MARUTI Maruti Suzuki India Limited Auto Manufacturers
TATAMTRDVR Tata Motors Limited Auto Manufacturers
TATAMOTORS Tata Motors Limited Auto Manufacturers
TITAN Titan Company Limited Luxury Goods
BAJAJ-AUTO Bajaj Auto Limited Auto Manufacturers

Summary

RELAXO is expected to reach the target of 825.70 in tomorrow's trading session.

After achieving the initial target in RELAXO, we will aim for higher targets of 835.25 tomorrow.

However, if RELAXO starts to trade below ₹820.35, then we will shift our focus to the sell side and aim for down targets of 810.80 and 805.45.