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But if the channel drawn, works correctly, we might be seeing the low point of the channel today and from tomorrow the ascent may start
long abv pdh with sl at 165
at this point of time RAIN inds seems to technically more attractive as the bulls are able to keep up the break out above 50 DMA which shows bulls are preparing for some heavy action on this stock. LONG and HOLD till the bearish cross of 50 DMA. keep a STOPLOSS of 164.
Rain industries become HOT favourite fot the traders. But it still has following Support and Resistances
Support 1 - 342
Support 2 - 305
Resistance 1 - 395
Resistance 2 - 405
This stock is gaining steady growth and has taken support at 0.618 fib level. Aggressive investors should have entered at 95 level. Conservative investors can enter when the price breaks 0.786 fib level which is 107.I expect the stock to gain another 40 to 45 points in one year. Always consult your financial manager before investing.