Rajesh Exports, world's largest gold jewellery manufacturer and India's biggest exporter of gold jewellery is our second buy recommendation for the coming 6 months.It is currently trading around 800 level. According to our research, we can see this stock trading between 950 - 1100 levels in the near future.
Comment:
Rajesh Exports must not break the Feb 2018 low @ 685. If it does, then the scenario changes - it will not break to new highs.But high would still come in around Sept-Oct 2018, will just be a lower high.
Comment:
Reviewing the chart of Rajesh Export closely the 19th Feb low appears to be a fake, happened in a span of few minutes. So if that's a fake one then real one is coming .So the low at 685 has no significance.I would suggest to keep your holdings tight and if possible you can add more in the coming weeks.I will update more on this soon.It will break to new highs.
Comment:
The investing call for Rajesh Exports have been wrong.It failed to break to new highs in September this - and retraced back down from 786 levels.Now its been hovering around 575 level for many weeks now.The trading plan should be to Short the stock as soon as a daily candle closes below 560. From there the fall is going to be swift. Target @ 388 - but be mindful this might not happen in a month , could take 10 months even to get there.