Radico Khaitan has formed a rounding bottom formation over a 3 year period. The Stock can be considered for a long position with a Stop Loss at 150 for targets of 267. In the opinion of the writer rounding bottom formations are one of the most reliable technical chart patterns with a greater degree of success. In the recent past this pattern has manifested in companies like Gabriel, BEML etc with spectacular returns for the traders.The Risk Reward for this trade stands at a ratio of 1:3.
Here is the idea published on Trading View.
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Disclaimer:: The article presented herewith is just an educational assessment of the chart structure of Radico Khaitan. Please do your own research and consult your financial advisor prior to acting on the information presented herewith. The author does not intend to set forth this article as a recommendation to buy or sell this stock and has a small position in the stock at 160 levels(Approx).
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