On the daily timeframe, Redington has broken its strong resistance zone of 224-232, a level that has faced rejection since April 2024.
There is a high probability that the stock may move upward to the 270-275 range from this level, with a stop-loss at 205.
Redington’s stock price has delivered positive returns of 21.61% in the last 6 months and 32.77% in the last one year.
The stock is experiencing strong buying pressure and has even crossed the 50-day moving average on the volume chart in the last 3 days.
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