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1. RAIN is inside a channel and consolidating and didn't slide much during the June-October carnage.Closing above 200s would reverse the trend.
2. The vix fix is suggesting there's not much correction left and the bottom is being made
3. The yellow arrow area shows the trend is still bearish. But at the end, there's sign of a trend reversal, which will be ...
Please note the supply and demand zones
On 9th October Rain crossed 8/1 angle on closing basis, turned bullish and is now attempting to cross the next higher 4/1 angle resistance which is seen at 211. Support being at 157, if the scrip is able to cross 211 with bullishness, then we may see the next target at 247 in intermediate term.
It is heading towards 123
1. No vested interest
2. Educational purpose only
disclaimer.. not an investing/trading recommendation
Sell for a target of 168-164 sl 195
1. No trading position
2. Educational purpose only
Moving upward through channel
Fundamentally strong company
Trade Explained in chart
The scrip seems to have turned bullish and in near term 221 can be seen and 280 in medium term.
SHORT TERM-MEDIUM TERM OUTLOOK OF RAIN INDUSTRIES w.r.t. ELIOT WAVES.
the weekly picture
a test of supply levels at 150s which is the confluence of the yearly support and the 100week wilder moving average, is likely...
having said that, this might go for a prolonged sideways action, may extend for years or maybe not... this was a post life time 5 waves up carnage , so the next cycle wave to ...
This one is Going up for very short range , one can look for buying above 203 with strong daily close and it can move till 248 , if it move out strong stay with it might be going to 310+
Made a turn around from support and bullishness may return now. Next resistance at 221.
Rain support seen at 207 and resistance at 257, with bullish trend. Hope it rains today!
Primary Elliot count for RAIN Industries, with algorithmic targets for market makers to close their shorts .
Support Range 1: 188-210
Very common for a wave on high degree to retrace at 61.8-65% fibonacci levels.
Previous resistance factored into the zone.
Prime targets for algorithms and market makers who bought in previous local high to close their short ...
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 ...
Next monday Rain may go down to a level of 245 which should hold