Arvind, Raymond: Textile stocks with land bank may rise up to 16%

Selective textile stocks are developing robust chart structures

Shares of textile stocks possessing land bank were seen trading with resilient sentiment lately. Shares of Raymond hits a new historic peak on Monday, and Century Textile and Industries reached a new 52-week high in the previous session.

Last week, Arvind reached a new 52-week high, while Bombay Dyeing and Manufacturing Company surpassed 12-month high. 

Here's the technical outlook of selctive stocks:-

Raymond Ltd (RAYMOND)

Likely target: Rs 2,100

Upside potential: 16%

Shares of Raymond have broken out over Rs 1,800, which is currently acting as a barrier, as per the daily chart. When the stock succeeds to leap over this hurdle on closing basis, the