Rain Industries was struggling near 400 levels from past four(4) months.
and forming Spinning Long Range Candles, signalling supply pressure near those levels. Hence some decline was then seen in the stock, forming long bearish Candles.
Stock might correct more , however there are no much sign of weakness on the charts.
Price action should be observed near 300 ...
Another interesting chart this one. Stock is in a major uptrend. It has been consolidating off-late and the daily price range is contracting steadily. Looks like price is coiling before a big breakout move.
Have this in your watchlist.
