The stock of Raymond has been appreciating for the past three weeks. It started to recover on the back of the support at ₹1,425. Importantly, it crossed over the resistance at ₹1,730 early this week and the price is now above both 20- and 50-day moving averages. Also, the breach of the barrier at ₹1,730 has confirmed an inverted head and shoulder pattern, a bullish chart set up. So, the stage is set for the bulls to perform where the stock price is likely to be lifted to ₹2,100 in the short-term. So, go long now at ₹1,808 and accumulate at ₹1,750. Place stop-loss at ₹1,680. When the stock rises to ₹1,975, revise the stop-loss to ₹1,800. On a rally to ₹2,050, tighten the stop-loss to ₹1,980. Exit at ₹2,100.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)