Rajesh Exports [stockquote]RAJESHEXPO[/stockquote], for those of you who don’t follow the stock, is a Bangalore based company that manufactures gold & diamond jewellery for export as well as distribution to the domestic wholesale jewellery market. They also own a 75 outlet retail channel via Shubh Jewellers.
I find this stock interesting because it keeps oscillating between Rs. 120 and Rs. 150 levels. As you can see in the chart below, the stock has been sitting pretty in this channel for more than a year.
This stock could be ideal for those who are looking for some trading action without adding on a lot of risk. With a beta of 0.72, there is not a ton of volatility here. RSI indicator is in the oversold area and the stock is testing its long-time support of Rs. 120.
From a fundamental point of view, the company has shown steady growth over the last three quarters. Gold price volatility has not been kind to the firm and there could be some impact due to that.
As I said earlier in the post, this could a quickie trade for investors trying to get some action that, going by the recent price action of the stock, appears low risk.
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