Relaxo Footwears jumps 14%, snaps 3-day losing streak. What should investors do now?
The shares of Relaxo Footwears rallied around 14% on Friday, snapping a three-session losing streak. The gains were driven by strong buying interest at key
The shares of Relaxo Footwears rallied around 14% on Friday, snapping a three-session losing streak. The gains were driven by strong buying interest at key technical levels, supported by healthy trading volumes. The rally added nearly Rs 1,255 crore to the company's market capitalisation.The stock surged to Rs 417 apiece on the NSE. If it sustains the gains until the close, Friday could mark its best single-day performance in nearly two months.After hitting a 52-week high of Rs 526 apiece in September last year, Relaxo Footwears shares more than halved over the next six months, declining 55% to a fresh 52-week low of Rs 236.50 apiece in March this year.
The stock has since staged a strong recovery, rebounding over 76% from those levels.Friday’s rally lifted the company’s market capitalisation by nearly Rs 1,255 crore to Rs 10,390 crore.Technical view on Relaxo Footwears share priceRelaxo Footwears witnessed a sharp 14% pullback today, backed by strong buying interest emerging from the 200-day EMA on healthy volumes, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. “The stock continues to maintain a higher high–higher low structure and is trading above its key moving averages, reflecting a strong underlying trend,” he added.Also read: Reliance Industries shares jump 2% ahead of Mukesh Ambani-led company’s Q1 earnings. How to trade stock today?“Relaxo Footwears witnessed a sharp 14% rally on Friday, backed by strong buying interest emerging from the 200-day EMA on healthy volumes,” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.“The stock continues to maintain a higher high–higher low structure and is trading above its key moving averages, reflecting a strong underlying trend,” he added.“Momentum indicators have also turned constructive.
The RSI has moved above the 60 mark, signalling renewed bullish momentum, while the widening gap between the DI+ and DI- lines suggests that buyers are firmly in control,” Shah said.While some profit booking or a brief phase of sideways consolidation cannot be ruled out after the sharp rally, the overall trend remains positive, according to Shah. “As long as the stock sustains above the Rs 365–360 support zone, the pullback is likely to extend further,” he added.Relaxo Footwears share price performanceRelaxo shares have gained around 4% in one week and 12% in one month, while the stock is up about 2% so far in 2026.Over the longer term, however, the stock has delivered negative returns, declining more than 20% in one year, 55% over three years, and 65% over five years.Also read:Why is stock market rising today?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
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