Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.
Raymond Limited (RAYMOND) is currently consolidating near its recent high of 1,860. The stock has pulled back to the 1,810 level after failing to break resistance. The RSI is neutral, indicating no strong buying or selling pressure, while the MACD suggests that bullish momentum remains intact. The stock has also formed a spinning top pattern, which signals indecision in the market. Support is seen around 1,790-1,800, and a breakdown below this range could lead to further declines towards 1,750. If Raymond manages to break the 1,860 resistance, it could target 1,900, with the possibility of more upside. Traders should watch for a clear breakout or breakdown to determine the next move.
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