Rain Industries - Potential reversal
A stock popular among a few marquee investors. Capex cycle has been complete. Now this company should become a cashcow.
Stock is rebounding off its 200EMA...could first hit resistance at 116 (200WEMA).
Post that 127 which has been a resistance multiple times.
If it manages to take 127 out it could lead to a huge breakout.
As guided by the management, the stock usually does its best once Aluminium prices go above $2000. One of the best indicators for the stock. So keep an eye on prices.
SL: Below 200EMA or todays low. (approx Rs.94)
Stock is rebounding off its 200EMA...could first hit resistance at 116 (200WEMA).
Post that 127 which has been a resistance multiple times.
If it manages to take 127 out it could lead to a huge breakout.
As guided by the management, the stock usually does its best once Aluminium prices go above $2000. One of the best indicators for the stock. So keep an eye on prices.
SL: Below 200EMA or todays low. (approx Rs.94)
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