by ashishp » Mon Mar 18, 2013 12:16 am
We have seen sharp fall at Raymond from Dec 2012. Right now at this stage Raymond at support level that we could seen from blue line.
Where white line is showing the Fibbonacci Retracement from Feb 2011 (256.4) to Dec 2011 (488.5). The Fibbonacci ratio 23.6% and support line are near to same where Stock had been re-bounce twice in past. RSI is also showing some positive divergence.
We can say its accumulation zone and taking the retracement from 256.4 to 488.5, upside projection for Raymond price remain around 337 from current level.
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