RAIN INDUSTRY LONG TERMRAIN INDUSTRIES :
On Weekly Time Frame it shows break out is awaited within few days, may be in the very next week. If it breaks out (Whose probability is high as it is currently supported by 200 EMA) , long term target would be 340 with some resistance at 240. with a very small SL , one can plan a long-term profit booking from this stock.
Stock PE : 4.50
Industry PE : 13.60
Market Cap : 5644 Cr
Rainindustries
RAIN - possible turnout to downpour NSE:RAIN - Trading in the range from the past couple of days and yesterday(10-Jan)
on Futures - Price Breakout Upside above current JAN series and also previous DEC Series VWAPS from Below.
Also currently stock is trading above strong support.
The Breakout of the trendline should give us a good upside in the short time frame.
Once sustains above 182 - the next target is 206 and then 240 is possible in quick sessions.
Also - in terms of RSI on Daily, Weekly, and Monthly values - we can clearly see Daily RSI > Weekly > Monthly. And also recent crossovers.
Add to watchlist -- we can enter above the trendline and get wet in RAIN.
Rain bullish set-up Stock consolidated for very long with just one swing high and low (BOX). Also stock took support on a major support level as shown on chart. Volume spikes are also visible during consolidation and after Breakout. RSI is also greater than 60 , showing strength. Stock may test its upper resistance level around 205.
Disclaimer: I am not SEBI registered.
Rain Industries is it a Buy or Sell ?If Breaks Then The Targets could be Taken at 188 .
Time Frame :- 1 Hour
Patterns Name :- IDouble Bottom
Symbol Name :- Rain Industries
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#rainindustries at harmonic support.NSE:RAIN
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.