RAIN INDUSTRIES IS A GOOD LONGSETUP ENTRY CAN BE TAKEN AT 119 WITH A SL OF 115 FOR TARGETS OF 128 T2- 136 T3-145 FOR STUDY AND EDUCATIONAL PURPOSE ONLY
Above 130 good for short time till 155...... Below 90, dust it out. Above 155, good for long trading.
Hello Friends, Rain Industries - price corrected around 80% due to carbon price correction. when a price is correct by 80% it is worthy taking a watch as an investor / long term traders. As per TA, it is making a long falling wedge and most of the time wedge tend to break upside. So, one can buy between 85-105 rs and sl below 85 for the target of high (480)...
with stoploss of 89. entry after valid breakout. long term investment. it was consolidating from long time, so after valid breakout can go long
NSE:RAIN
Stock 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 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...
RAIN INDUSTRIES bulls time to maintain caution and if possible start booking profit on every raise.
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.