If Raymond goes above 381 today it's a very good buy: Rohit Shinde

In a chat with ET Now, Rohit Shinde, Head Technical Research, Nimbus Wealth Management, talks about Raymond. Excerpts:

Raymond, if you could give us your rationale on the charts as to why you like this stock?

Yes, what I can see on the charts it has got a very good volumes in the past 7 to 8 trading sessions and once it broke out above 250 with this good volumes it had just gone going up only like keeping on going up. Now it is just consolidating come down around this 390-360 looking for a ideal good buy right now say if it goes above 381 today it's a very good buy for a target of 411 and you can keep a stop loss of 369. Another stock which I have recommended would be IBN18 this is also if its around 127 you can buy it for a target of approximately 140 and keep a stop loss of 121.