Look at the chart of Rain Industries carefully. Previously after forming every high, it did'nt spent time there is came down. But now it's spending time near it's high. Good for swing Trade.
It looks like Rain has completed it's correction as it is sitting on 2.618 Fib support also near the bottom of the channel. Next wave can take it towards its next Fib resistance of 3.618 that is 187. Stoploss is 144 Weekly closing basis.
Rain Industries has formed a head and shoulders pattern in the 45 mins chart and has given a breakdown below the neck. The stock can be expected to go down around 11-12 points from the current levels.
NSE:RAIN shows RSI divergence hence the momentum is slowing down each day. It is getting exhausted and will be fighting for new highs as much as it can around the Price Reversal Box drawn in the chart Rs190-200. This acts as resistance and might not break it in one go. Slowing and reversing from those price levels will give a corrective pattern. Kindly take...
#RainIndustry Buy at CMP(151.85) Stoploss: below 120 WCB Target 1: 228 Disclaimer: I am not a SEBI registered or authorized analyst. The charts/levels/stocks posted will be only for educational purpose and not a buy/sell recommendation. I will not be responsible for your any losses & profit. No any kind of legal actions will be entertained for the same.
Riding the parallel Channel, it has made an inverted Head and Shoulder. Awaiting breakout of the neck line.
Please see the chart for the levels.
Do your analysis before taking any action. Target and entry-level is on the chart.
Note: This is for educational purpose only. There seems to be an Inverse Head & Shoulder pattern bullish breakout with high volume on weekly chart. RSI above 65 indicates bullish momentum.
Rain industries breakout at 125-130 Range has been done today I'm bullish on this chart and waiting to the target for 180 -185
- Weekly / Swing/ Positional - Inverse Head & Shoulder - Breakout - Risk Management - Position Sizing
Trendline BO. Handle in formation. Crossing 107 and sustaining can see 112 / 125 and then 200 as it forms C&H.
NSE:RAIN Looks good for target 115/-