Rainindustries
RAIN INDUSTRIESStock has been falling from many months, making lower low.
Still no signs of reversal, however its been trading in fibonacci crucial zone hence keep an eye on price action
.
Further support can be seen at 121 levels.
Volumes are considerably low.
RAIN INDUSTRIES LTD - Currently in Pullback Phase.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 and 250 levels, to identify further movement in the stock.
RAIN INDUSTRIES bulls time to maintain cautionRAIN INDUSTRIES bulls time to maintain caution and if possible start booking profit on every raise.
Rain Industries: Volatility ContractionAnother 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.
