CautiousChartist

RAIN INDS - History & Patterns Repeat

Long
NSE:RAIN   RAIN INDUSTRIES LTD
The stock is riding the Parallel Channel .

It has been repeating the cup breakout pattern and climbing up.

While it about to repeat itself again, it is also breaking out of a Flag pattern .
Comment: Be a little cautious here. 175 is a strong support . Inside bar pattern can be seen. Above 193 it can zoom. however below 178.25 can take it down further below 175 in case of which the stock gets weaker. Keep a strict stop loss.
Trade active: Yesterday was a shakeout candle eliminating weak hands. Kissed support and immediately rose back. Today show of strength.

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