Rain Industries has emerged as an intriguing prospect, presenting a compelling case for a potential upswing.
Reasons are listed below :
Target - 184 // 206 // 253
StopLoss - weekly close below 145
Reasons are listed below :
- Rain Industries has established a sturdy support base at the 145 level, providing a solid foundation for potential upward movement.
- The weekly timeframe reveals a bullish engulfing candle, signaling a potential shift in sentiment and setting the stage for a positive trend reversal.
- A bullish marubozu candle on the daily chart further strengthens the bullish case, indicating strong buying interest and potential momentum in the short term.
- The stock is bouncing back from the golden Fibonacci zone, adding a technical aspect to the trade setup and reinforcing the probability of a favorable price movement.
- The uptick in trading volumes is a positive indicator, suggesting growing market interest and participation in Rain Industries.
- Despite highs shifting down, the absence of new lows is a noteworthy observation, hinting at a potential reversal and the resilience of the stock in the face of downward pressure.
Target - 184 // 206 // 253
StopLoss - weekly close below 145
Trade closed: target reached:
1st target done - (+12.23%) ,stock made a high of 14.7% from our buying price.
Trade closed: target reached:
2nd target done +25% & made a high of 32%
Comment:
Those who are holding can still hold for further targets.