The stock of Rajesh Exports has been trading in the range of ₹830 and ₹880 for nearly three weeks. But on Thursday, it rallied beyond the range top and closed above the same, opening the door for further appreciation. Looking at the price action on the daily chart, it will most probably rally on Friday. So, traders can consider the stock of Rajesh Exports for intraday longs.
We suggest buying at the current level of ₹892 and placing stop-loss at ₹870. On the upside, the scrip looks set to hit ₹940 and so, this can be the target.
Do not trade if the stock opens below ₹870 on Friday.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)